San Juan – The Secretary of the Department of the Treasury (DH), Francisco Parés Alicea, reported on Wednesday that one week after starting the electronic filing process of the Individual Income Tax Return for the year 2020, 117,081 returns have been received and paid $ 22.8 million in refunds.
“We are satisfied with the response of taxpayers to this process, which is just beginning. This tax cycle, pro-taxpayers, must be well analyzed due to the amount of credits it contains and the reduction in the tax rate, of three percent, in addition to the one that occurred last year, “said the official at a press conference.
Parés Alicea highlighted that individuals will benefit from a discount of 8% in total, in the tax rate, by joining the reduction of five percent in 2019, with that of three percent in 2020.
While eligible postsecondary students will have the option of retroactively, for the years 2018 and 2019, in addition to 2020, to the American Opportunity Credit.
“Eligible individuals, parents or spouses, could receive a credit of up to $ 1,000, between tuition and books,” he noted.
The return also includes the Credit for Work, with benefits between $ 300 and $ 2,000, depending on the taxpayer’s personal status, dependents and income, and also the option to claim the economic impact payments of $ 1,200 and $ 600 was included in the return. dollars, as refundable credits, using Schedule B3 of this return, to claim both payments or incomplete payments.
“In the case of the claim of the Economic Impact payments not received, the Department is sending a notification to the taxpayers to the email that they have provided us, called Form SC 6174 – Federal Additional Economic Impact Notification. This communication certifies the payments that each citizen has received, as recorded in our records and will be needed by eligible citizens, to complete the claim through Schedule B3, Payment of Economic Impact, which they must submit with the Return ”, he explained.
If they have doubts or questions in this process, taxpayers can send a message through their SURI accounts or using the SURI Assistance access, available on the first page of the suri.hacienda.pr.gov platform or by calling 787 622 -0123.
“When claiming any of these benefits, taxpayers should be careful verifying the documents that must accompany the return. The Department is responsible for validating them, as required by laws and regulations. We are processing the returns as a whole, not separating federal credits or refunds. And it is reasonable to anticipate that the forms with claim of credits and federal reimbursements take a little more time to verify them, ”he said.
In the case of impact payments, he said that it is also required to validate the information with the Federal Internal Revenue Service (IRS).
“To these citizens I once again emphasize the importance of writing their name, as it appears on their Social Security card,” said the secretary.
The 2020 Income Tax Return must be filed electronically on or before April 15, 2021, using a program certified by the Department, available through the page www.hacienda.pr.gov; Through active Payroll Specialists, available on the SURI page, by clicking on Services and then selecting the List of Payroll Specialists with more than 3,000 contacts throughout the Island or using your SURI taxpayer account, as of Friday 5 of March.
In this case, you access your SURI account and in the Account menu, click the link Individual – Income Tax.
“Taxpayers who have an overpaid contribution can request that their refund be deposited directly into their checking or savings account. We urge you to verify that the information provided for the authorization of direct deposit is correct, ”he stated.
If the return reflects a tax balance pending payment, you can do it in the following ways: through your Income Tax account in SURI; Through SURI’s home page, without registering, by clicking on the Payment Options link or, if you use a Certified Program, you can pay at the time of electronic filing or authorize subsequent collection, no later than April 15, 2021.
Those taxpayers who, as of April 15, 2021, could not file the return, can request an automatic extension electronically, through SURI, with the Form SC2644.
The extension request extends the time period to file the Individuals Return, not the time to pay any outstanding balance that may arise with said return.