The Puerto Rico Treasury Department informed that net income shored up into Puerto Rico’s General Fund exceeded $1.4 billion in May, beating the government’s projections by $42.9 million. In a press release, agency Secretary Francisco Parés said the projected amount was $1.3 billion, representing a growth of 3.1%. “This projection is included in the new […]
The Puerto Rico Treasury Department and the State Insurance Fund Corp. (CFSE, in Spanish) will continue to offer services next week, when Gov. Pedro Pierluisi gave Wednesday, Thursday and Friday off to government workers. Monday and Tuesday are official holidays, so public sector employees are allowed to take the rest of the week as vacation […]
Net income to Puerto Rico’s General Fund shored up in February, the eighth month of the fiscal year, totaled $714.8 million, Treasury Department Secretary Francisco Parés confirmed. The official added that collections accrued through February totaled $6.8 billion, or $122.5 million more than the same period in fiscal year 2020, when collections reached $6.6 billion. […]
Net income to the government’s General Fund during January — the seventh month of Fiscal 2021 — totaled $817 million, while accumulated collections from July to January, reached $6 million, compared to the $5.9 billion on record for the same period of Fiscal 2020. January collections beat the agency’s fiscal forecast by $36.3 million or […]
The Puerto Rico Treasury Department confirmed that the new filing date for individual and corporate returns corresponding to the 2020 tax year will be extended to May 17, 2021, from April 15, 2021. In an Administrative Determination released Tuesday, the agency confirmed that it is juggling several events in the midst of COVID-19. “Our staff […]
Treasury Secretary Francisco Parés submitted Thursday to the Internal Revenue Service (IRS) and the US Department of the Treasury, the plan to distribute the new $1,400 economic stimulus signed by President Joe Biden, which could reach $3.5 billion and benefit some 2.6 million people. “With the rescue plan converted into law and at the urging […]
The Puerto Rico Treasury Department has received about 117,081 tax returns and has paid out $22.8 million in refunds a week into this year’s tax season for the 2020 individual filing cycle, agency Secretary Francisco Parés said. “We’re satisfied with the response of taxpayers to this process, which is just beginning. This pro-taxpayers tax cycle […]
Gov. Pedro Pierluisi announced Sunday he has appointed Puerto Rico Treasury Secretary Francisco Parés as the government’s chief financial officer, to prioritize the completion of the audited financial statements. His appointment is effective immediately. “It’s necessary to have an accurate map of our finances to be able to responsibly establish the fiscal solutions we need,” […]
An estimated 30,525 taxpayers have not received the disbursement of the $600 financial stimulus, reportedly due to errors in their bank information, Treasury Department officials said. “They must have received a message, either by email or through the platform, indicating a rejection [of the deposit] by the bank. They have to update their bank information […]
The Puerto Rico Treasury Department has asked its federal counterpart to clarify whether a new regulation under consideration concerning credits granted for taxes paid by corporations doing business abroad would apply to Puerto Rico. In a letter sent to US Treasury Secretary Janet Yellen, the local government asked for the proposed “Guidance Related to the […]
The Puerto Rico Treasury Department has filed an application to participate in the newly announced Emergency Rental Assistance Program run by the U.S. Department of the Treasury that could represent $325 million in aid for the island, this media outlet confirmed. The federal government is making a total of $25 billion available to assist households […]
The Puerto Rico Treasury Department reported net income to the General Fund during the month of November — the most recent figures available — totaled $656.1 million. Agency Secretary Francisco Parés confirmed that the figure represented $127.8 million, or 24%, over the monthly projection based on the budgetary method. Meanwhile, collections accrued during the first […]
Individuals residing in Puerto Rico during the year 2019 or 2020 have until Friday to request the $1,200 economic incentive approved by the federal government earlier this year to mitigate the effects of COVID-19, Treasury Department Secretary Francisco Parés-Alicea said. “We urge citizens who have not completed the CARES Act financial aid application to do […]
The Puerto Rico Treasury Department has ruled that the cash benefit available in certain products to Medicare Advantage plan members is not considered income and, therefore, does not affect the member’s eligibility for other programs and services based on income. “We’re very pleased that the Treasury Department expressed and confirmed through a ruling that the […]
The Puerto Rico Treasury Department unveiled a new online appointment system through which taxpayers can schedule time with the agency and conduct their transactions at a given date. “With great satisfaction I announce that we already have our online appointment system available to continue serving the needs of taxpayers in an agile and safe manner, […]
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