In upcoming years, the term “debt forgiveness” will become a common phrase among individuals, proprietorships, and businesses in Puerto Rico, but not for a good reason.
The recent Fiscal Plan presented by the government of Puerto Rico proposes the deregulation of professions with the supposed intent of facilitating the entry into the labor market.
The Individual Retirement Account is a retirement savings account. However, the funds in an IRA may be used for other purposes in case of an emergency or special need and the Puerto Rico Internal Revenue Code provides for it.