| Letter to Clients - Paperless Initiative |
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January 17, 2012
Dear Clients: As part of our unyielding desire to continuously provide the highest quality of client service with a sense of social responsibility, here at RSM ROC & Company (read letter...)
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TAX ALERT!
RECENT TAX ANNOUNCEMENTS |
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January 9, 2012
Dear Clients: We are pleased to share with you a summary of some of the recent announcements related to corporate filings and employer payroll taxes for the year 2012. (read article...)
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TAX ALERT!
DUE DATE OF FIRST INSTALLMENT FOR WORKMEN’S COMPENSATION INSURANCE |
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November 9, 2011
Dear Clients: The State Insurance Fund Corporation (CFSE - for its Spanish acronym) requires that all employers file a Payroll Declaration on or before July 20 of each year. (read article...)
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TAX ALERT!
NEW TAX AMNESTY IS ENACTED |
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November 9, 2011
Dear Clients: Act 218 of November 7, 2011 established an amnesty to relieve taxpayers from interest, surcharges, penalties and any other additions to tax owed for the following concepts: (read article...)
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TAX ALERT!
ESTIMATED TAX REQUIREMENTS FOR INDIVIDUALS UNDER THE 2011 INTERNAL REVENUE CODE |
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November 8, 2011
Dear Clients: The Puerto Rico Treasury Department has proposed a new Regulation in which, among other things, they establish the estimated tax payment requirements for individuals. (read article...)
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TAX ALERT!
ADDITIONAL EXTENSION OF THE STIMULUS ACT FOR THE PURCHASE AND LEASE OF REAL PROPERTY |
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November 8, 2011
Dear Clients: On November 1, 2011 the Governor of Puerto Rico approved Act #216 which extends for the second time the incentives approved on Act 132 of September 2, 2010. (read article...)
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TAX ALERT!
NEW FILING REQUIREMENTS FOR EMPLOYER TAX RETURNS |
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October 4, 2011
Dear Clients: Recently, the Puerto Rico Treasury Department and the Department of Labor & Human Resources issued new filing requirements for the Employer’s Annual and Quarterly Forms. (read article...)
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TAX ALERT!
NEW DUE DATES FOR PUERTO RICO INCOME TAX RETURNS |
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September 12, 2011
Dear Clients: As part of the changes imposed under the Puerto Rico Internal Revenue Code (PRIRC) of 2011, the due date for certain tax returns were changed for taxable years commencing (read article...)
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TAX ALERT!
NEW RULES AND REGULATIONS FOR TAXABILITY OF LIMITED LIABILITY COMPANIES AND PARTNERSHIPS |
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September 2, 2011
Dear Clients: As you may be aware of, the Puerto Rico Internal Revenue Code of 2011 (“Code”) brought several new provisions that impact the way the Limited Liabilities Companies (LLCs) (read article...)
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TAX ALERT!
AUDITED FINANCIAL STATEMENT REQUIREMENTS HAVE BEEN REVISED |
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August 1, 2011
Dear Clients: One of the most important changes that the PR Internal Revenue Code of 2011 (PRIRC) brings is the new rules for audited financial statements required to be filed with (read article...)
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TAX ALERT!
NEW WITHHOLDING GUIDELINES HAVE BEEN ISSUED |
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July 21, 2011
Dear Clients: Late last week the Puerto Rico Treasury Department issued Informative Bulletin 11-11 with the purpose of providing employers with final guidelines for withholding (read article...)
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TAX ALERT!
BACK TO SCHOOL SALES & USE TAX FREE HOLIDAY |
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July 13, 2011
Dear Clients: The Puerto Rico Treasury Department has issued Circular Letter 11-06 with the purpose of notifying the period for this year’s Back to School Tax Free Holiday. (read article...)
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TAX ALERT!
RECENT CHANGES TO FEDERAL UNEMPLOYMENT TAX RATES (FUTA) |
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July 12, 2011
Dear Clients: Effective on July 1, 2011 the rate for Federal Unemployment Tax (FUTA) decreased to 6.0%. (read article...)
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TAX ALERT!
NEW INCENTIVE PLAN FOR PAYMENT OF REAL AND PERSONAL PROPERTY TAXES |
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July 6, 2011
Dear Clients: As an effort to continue the goals set under Act 71 of July 2, 2010 which established an incentive plan to pay personal and real (read article...)
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TAX ALERT!
COMPULSORY ANNUAL REGISTRY WITH THE TRADE & EXPORT COMPANY OF PUERTO RICO |
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July 1, 2011
Dear Clients: As in previous years, we are approaching the deadline to submit the Obligatory Registry. (read article...)
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TAX ALERT!
NEW RULES FOR DEDUCTIONS OF CHARITABLE CONTRIBUTIONS |
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June 24, 2011
Dear Clients: The PR Internal Revenue Code of 2011 included some important changes to certain deductions. One of these significant changes is the increase in the amount of deduction for charitab (read article...)
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TAX ALERT!
EXTENSION OF THE STIMULUS ACT FOR THE PURCHASE AND LEASE OF REAL PROPERTY |
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June 22, 2011
Dear Clients: On May 6, 2011 the House of Representative filed Bill #3365, to amend Act 132 of September 2, 2010. Although the benefits provided in Act 132 will remain the same, the Bill intends (read article...)
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TAX ALERT!
TREASURY DEPARTMENT IS ISSUING NEW NOTIFICATIONS TO TAXPAYERS |
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June 21, 2011
Dear Clients: During the past months the Puerto Rico Treasury Department (PRTD) has been sending notices to certain taxpayers titled; “Aviso de Fecha Límite para acogerse a (read article...)
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TAX ALERT!
MANDATORY REGISTRY FOR UNASSESSED REAL PROPERTY |
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May 18, 2011
Dear Clients: The mandatory registry for the assessment of residential, commercial and industrial real property that was established by Act 71 of 2010 has been extended until June 12, 2011. (read article...)
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TAX ALERT!
WITHHOLDING AGENTS WILL QUALIFY FOR PAYMENT PLANS DURING A LIMITED PERIOD OF TIME |
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March 16, 2011
Dear Clients: The Puerto Rico Treasury Department has issued Informative Bulletin 11-05 with the purpose of establishing temporary guidelines in order to allow certain withholding agents (read article...)
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TAX ALERT!
NEW FILING REQUIREMENTS FOR CORPORATE ANNUAL REPORTS & OTHER FILINGS |
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February 1, 2011
Dear Clients: During the month of November of 2010 the Department of State issued Regulation 7939 to establish and explain changes concerning services that will be available online. (read article...)
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TAX ALERT!
NEW GUIDELINES FOR INCOME TAX WITHHOLDINGS |
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December 27, 2010
Dear Clients: Late last week the Treasury Department issued Informative Bulletin 10-15 with the purpose of providing new guidelines for employers on withholdings of income taxes on salaries. (read article...)
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| INFORMATIVE BULLETIN! TAX ALERT: NEW GUIDELINES FOR INCOME TAX WITHHOLDINGS |
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December 27, 2010
INFORMATIVE BULLETIN - TAX ALERT: NEW GUIDELINES FOR INCOME TAX WITHHOLDINGS (read article...)
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TAX ALERT!
TAX CALENDAR 2011 HAS BEEN ISSUED |
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December 23, 2010
Dear Clients: We are pleased to inform that earlier this week our Firm issued the 2011 Tax Calendar. (read article...)
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TAX ALERT!
TAX RELIEF, UNEMPLOYMENT INSURANCE REAUTHORIZATION AND JOB CREATION ACT OF 2010 |
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December 21, 2010
Dear Clients: Last week President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act. (read article...)
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TAX ALERT!
IRS ELIMINATES PAPER DEPOSITS |
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December 17, 2010
Dear Clients: Beginning January 1, 2011 all Federal Tax Deposits (FTD) are required to be made using the Electronic Federal Tax Deposit System (EFTPS) (read article...)
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TAX ALERT!
NEW 1% EXCISE TAX HAS BEEN PROPOSED |
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November 24, 2010
Dear Clients: The proposed Tax Reform that the Governor of Puerto Rico announced a few weeks ago has been drafted and submitted for review by both Senate and House committees. (read article...)
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TAX ALERT!
CRIM’S AMNESTY TO EXPIRE IN THE NEXT FEW WEEKS |
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November 17, 2010
Dear Clients: As described in Tax Alert 14-10, Act 71 of July 2, 2010 established an amnesty to encourage taxpayers to pay outstanding personal and real property tax (read article...)
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TAX ALERT!
INCOME TAX WITHOLDING EXEMPTION FOR SALARIES AND CHRISTMAS BONUSES PAID DURING DECEMBER 2010 |
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November 2, 2010
Dear Clients: On October 25, 2010 the Governor of Puerto Rico presented the 2010 Proposed Tax Reform, which intends to offer tax benefits to all taxpayers. (read article...)
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TAX ALERT!
PROPOSAL TO EXPAND VOLUNTARY DISCLOSURE PROGRAM & APPLY SPECIAL RATE |
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October 29, 2010
Dear Clients: This past Tuesday House Bill 3029 was presented for the legislative process as previously announced by the Governor of Puerto Rico. (read article...)
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TAX ALERT!
PROPOSED 2010 TAX REFORM |
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October 26, 2010
Dear Clients: Last night, the Governor of Puerto Rico, Hon. Luis G. Fortuño, announced his plans for implementing a comprehensive tax reform. (read article...)
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TAX ALERT!
STIMULUS ACT FOR THE PURCHASE AND LEASE OF REAL PROPERTY |
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September 24, 2010
Dear Clients: Earlier this month the Governor of Puerto Rico signed Senate Bill #1720 into Act 132 of September 2, 2010 to establish a series of incentives on the pur (read article...)
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TAX ALERT!
INCENTIVES PLAN FOR PAYMENT OF REAL & PERSONAL PROPERTY TAXES |
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August 12, 2010
Dear Clients: Act 71 of July 2, 2010 established an incentives plan to encourage taxpayers to pay outstanding personal and real property tax debts. (read article...)
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TAX ALERT!
EXTENDED DATE FOR FILING THE COMPULSORY REGISTRY WITH THE TRADE & EXPORT COMPANY OF PR |
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July 16, 2010
Dear Clients: On our Tax Alert (08-10) of June 23, 2010, we advised our clients of the due date for the Compulsory Registry with the Trade & Export Company of PR. (read article...)
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TAX ALERT!
DUE DATE FOR FIRST INSTALLMENT OF MUNICIPAL TAXES |
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July 12, 2010
Dear Clients: The Municipal License Tax Act of 1974, as amended, requires that most businesses in Puerto Rico file a Volume of Business Declaration with the Municip (read article...)
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TAX ALERT!
HIRING INCENTIVES TO RESTORE EMPLOYMENT ACT (H.I.R.E) |
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June 29, 2010
Dear Clients: The Hiring Incentives to Restore Employment Act (HIRE) was signed by President Obama and provides two new tax benefits to employers who hire a qualified (read article...)
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TAX ALERT!
BACK TO SCHOOL TAX FREE HOLDAY |
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June 29, 2010
Dear Clients: The Secretary of the Treasury has issued Circular Letter 10-07 with the purpose of notifying the period for this year’s Back to School Tax Free Holiday. (read article...)
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TAX ALERT!
ESTIMATED TAX PAYMENT REMINDER |
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June 4, 2010
Dear Clients: Last year, Act 194 of December 22, 2009 amended the Puerto Rico Internal Revenue Code of 1994 to eliminate the requirement of filing the Estimated Income (read article...)
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TAX ALERT!
ADITIONAL 30 DAY EXTENSION FOR THE 2009 PUERTO RICO CORPORATE ANNUAL REPORT |
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May 26, 2010
Dear Clients: As a reminder, the due date for the 2009 Corporate Annual Report of Corporations in Puerto Rico who timely filed an extension request is June 14, 2010 (read article...)
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TAX ALERT!
RULES FOR FINANCIAL STATEMENTS REQUIRED ON 2009 CORPORATE ANNUAL REPORTS MAY CHANGE |
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March 2, 2010
Dear Clients: As described on Tax Alerts 02-10 and 03-10, many corporations in Puerto Rico are currently required to attach either a Compiled Balance Sheet or an Audited (read article...)
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TAX ALERT!
RULES FOR FINANCIAL STATEMENTS REQUIRED ON 2009 CORPORATE ANNUAL REPORTS AND INCOME TAX RETURNS |
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February 18, 2010
Dear Clients: As a result of the approval of Act 164 of December 16, 2009, known as the "General Corporation Act of 2009", many questions and doubts have been raised with regards (read article...)
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TAX ALERT!
NEW FILING DUE DATE FOR LIMITED LIABILITY COMPANY ANNUAL FEES |
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January 26, 2010
Dear Clients: During the past month, the Governor of Puerto Rico signed Act 164 of December 16, 2009 known as the "General Corporation Act of 2009", which replaces the previous (read article...)
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TAX ALERT!
AMENDMENTS TO CERTAIN INCOME TAX FILING REQUIREMENTS |
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January 25, 2010
Dear Clients: When the Governor of Puerto Rico signed Act 7 of March 9, 2009, the Internal Revenue Code of 1994 suffered various amendments. One of the amendments was for the (read article...)
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TAX ALERT!
REMINDER FOR NEW DUE DATE FOR FILING YOUR SALES & USE TAX RETURN |
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November 25, 2009
Dear Clients: When the Governor of Puerto Rico signed Act 7 of March 9, 2009, the Internal Revenue Code of 1994 suffered various amendments. One of the amendments was for the (read article...)
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