May 14, 2021

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CPA College offers seminar on Child Tax Credit


They will also provide guidance on the tax responsibilities of the Giveaways and the Influencer in social networks

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San Juan The College of Certified Public Accountants (CCPA) of Puerto Rico announced on Tuesday, the offering of a webinar on the additional tax credit for children, better known as Child Tax Credit; and another related to the taxation and consequences of prizes or gifts received in social networks (giveaways), as well as the application of tax rules to influencers (influencers).

“Our webinars cover a variety of topics, this time we are focused on tax issues. The first will refer to the Additional Tax Credit for Children that was approved through the third federal aid package for the coronavirus. The second topic deals with the publication of Circular Letter 21-11 of the Department of the Treasury, which, among other things, reviews the responsibility and tax requirements of those who make and receive awards through social networks. We invite the general community to participate in these webinars, which will have expert resources on these topics, ”said CPA Jaime Sanabria, executive director of the CCPA in written communication.

The webinar “Additional Tax Credit for Children Child Tax Credit for Bona Fide Residents of Puerto Rico for the year 2021 and subsequent years ”will take place next Wednesday, April 14 from 11:30 in the morning to 1:00 in the afternoon.

While the webinar “Circular Letter 21-11 (” CC RI 21-11 “): Taxation and consequences of prizes, gifts or Giveaways, application of tax rules to influencers”Will be held on Wednesday, April 28 from 12:00 pm to 1:00 pm.

Both webinars will be offered through Zoom.

In the webinar on the Additional Tax Credit for Children, participants will learn about the modifications that were made to the existing credit to expand the base of taxpayers who can benefit from it.

In addition, they will learn who is eligible for the credit, the qualifying dependents, the amount of the credit refundable for the year 2021 and subsequent years, as well as the claim process.

On the other hand, at the end of the webinar on Taxation and Consequences of Awards, Gifts or Giveaways, Application of Tax Rules to Influencers, Participants will review the tax treatment of prizes, gifts or giveaways received by a resident of Puerto Rico; as well as the responsibilities and tax requirements that must be met by those who make and receive this type of payment in Puerto Rico; and explain how these tax rules should be applied to the so-called influencers who commonly receive compensation in the form of gifts or free services in Puerto Rico.

For registration and more information about both webinars and others that the CCPA is offering you can access www.colegiocpa.com.



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