November 28, 2020

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Governor files measure to help fill out the application for tax credits – NotiCel – The truth as it is – News about Puerto Rico – NOTICEL


The law seeks to provide assistance to people 65 years of age or older.


August 1, 2020. The governor, Wanda Vázquez Garced, converts into law a new Civil Code.

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The governor Wanda Vázquez Garced today sent to the Legislature a bill to establish that taxpayers of the elderly have access to guidance and assistance in the application process for refundable tax credits.

The initiative titled “Assistance Program for People Low Income 65 Years or Older "will be free of charge to the taxpayer and will provide a $ 25 reimbursement for the specialists who provide the aid.

" With the creation of this program, we help older people than others. they do not have access to the Internet and that they do not have to go to the Department of the Treasury to request their credit, safeguarding their physical integrity and well-being in the midst of the COVID-19 pandemic, "said the governor.

L as it proposes that any specialist enrolled in the Registry of Specialists in Returns, Declarations or Reimbursement Claims of the Department of the Treasury may assist taxpayers of the elderly in the process of requesting the credits provided.

The specialists could receive up to $ 25 for each Credit Return for Persons 65 years of age or older and Compensatory Credit for Low Income Pensioners that they submit through the Unified Internal Revenue System (SURI), and in which they sign that they prepared it.

To be eligible for this refund, the specialist may not charge the taxpayer who attends to electronically fill out and file the return for their services.

"It will be the specialist's responsibility to verify that the taxpayer is eligible for the credit before completing the application. The reimbursement you receive from the Department for participating in this assistance program will be exempt from the payment of income tax, including alternate basic tax and minimum alternative tax.

The measure also establishes that no employee of the Department of the Treasury may participate in this program.

Section 1052.02 of the Code grants a refundable credit of $ 300 for those pensioners whose only source of income comes from a pension for services rendered when the annual amount received does not exceed $ 4,800.

In addition, A refundable personal compensatory credit of up to $ 400 is granted for adults age 65 and over whose gross annual income, including social security benefits, does not exceed $ 15,000 ($ 30,000 for married taxpayers).

Recently Governor passed Law 40-2020, which provides a maximum term of 30 days after claiming the credit to issue the corresponding payment.

“It is a priority to advocate for the quality of life of this population, which is increasingly making up a highly relevant sector, not to mention that the economic and financial crisis has placed them in a position of greater vulnerability. In addition to the situation of COVID-19 and the government shutdown, which has disrupted the usual operation of the Treasury, which is limiting some services that they provide to the general public, "said the first executive.