Treasury Dept. submits to IRS distribution plan for $1,400 incentive
March 12, 2021
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 […]
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Treasury Dept. seeks exclusion from federal Foreign Tax Credit public policy
February 11, 2021
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 […]
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