Wednesday, November 20, 2013

Annual Informative Returns - Puerto Rico

In Puerto Rico, informative returns must be filed for payment including but not limited to paid dividends in excess of $500 to individuals.  This applies to salaries, wages, interest, rents, and other items compensation or gain not otherwise reported.  Likewise if you are a person makes payments to/credits of of $500 or more to individual then you are also obligated to withhold the tax and must make the appropriate filings.  These filings/returns must be filed by February 28. Beyond this there are other informative returns including but not limited to shareholders activity,  partners activity as well as IRA activity. As always the information herein is general information, and you should consult your tax professional detailed and specific advice.

The information on this website is general information and is for educational use.  You, the reader, should further research your specific individual situation.  In addition you should contact your accounting professional for for professional advice derived from specific details from your financial position.

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