On January 23, 2025, the Puerto Rico Department of the Treasury issued Internal Revenue Circular Letter No. 24-01 (CL IR 24-01) announcing the applicable 2024 limits for Puerto Rico qualified retirement plans. Pursuant to...more
2/7/2025
/ Compensation & Benefits ,
Defined Benefit Plans ,
Employee Benefits ,
Income Taxes ,
IRS ,
Puerto Rico ,
Qualified Retirement Plans ,
Reporting Requirements ,
Retirement Plan ,
Tax Credits ,
Tax Planning
On January 31, 2024, the Puerto Rico Department of the Treasury issued Internal Revenue Circular Letter No. 24-01 (CL IR 24-01) announcing the applicable 2024 limits for Puerto Rico qualified retirement plans. Pursuant to...more
On January 14, 2022, the Puerto Rico Department of the Treasury issued Internal Revenue Circular Letter No. 22-01 (CL IR 22-01) announcing the applicable 2022 limits for Puerto Rico qualified retirement plans. ...more
On February 20, 2020, the Puerto Rico Treasury Department (PR Treasury) issued Internal Revenue Circular Letter Number 20-09 (CC RI 20-09) to provide special rules and procedures applicable to distributions from qualified...more
2/24/2020
/ Distribution Rules ,
Earthquakes ,
Employee Benefits ,
Individual Retirement Account (IRA) ,
Internal Revenue Code (IRC) ,
Natural Disasters ,
Puerto Rico ,
Qualified Retirement Plans ,
Retirement Plan ,
Tax Planning ,
Withholding Requirements
On December 28, 2019, the Puerto Rico Department of the Treasury issued Internal Revenue Circular Letter No. 19-17 (CL IR 19-17) announcing the applicable limits for Puerto Rico qualified retirement plans for 2020....more
1/15/2020
/ Compensation & Benefits ,
Contribution Limits ,
Employee Benefits ,
Internal Revenue Code (IRC) ,
IRS ,
Puerto Rico ,
Qualified Retirement Plans ,
Retirement Plan ,
Tax Deferral ,
Tax Liability ,
Tax Planning ,
U.S. Treasury
In the aftermath of Hurricane Maria's catastrophic impact on Puerto Rico, in order to assist in rebuilding and recovery, Puerto Rico’s governor and several agencies have issued multiple exemptions to previously established...more
10/17/2017
/ Administrative Orders ,
Building Permits ,
Construction Industry ,
Construction Project ,
Critical Infrastructure Sectors ,
Diesel Fuel ,
Excise Tax ,
Executive Orders ,
Exemptions ,
Extensions ,
Federal Contractors ,
Government Agencies ,
Hurricane Maria ,
Natural Disasters ,
Oil & Gas ,
Property Tax ,
Puerto Rico ,
Registration Requirement ,
Repairs ,
Tax Planning