Instruction For A Informative Return Of Department Of The Treasury printable pdf download

Instruction For A Informative Return Of Department Of The Treasury

INSTRUCTIONS

Act No. 7 of March 9, 2009, as amended, added Section 1040M to the Puerto Rico Internal Revenue Code of 1994,

as amended (Code), to establish a tax credit moratorium for each one of the taxable years beginning after December

31, 2008 and before January 1, 2012.

This form must be completed in all of its parts in a clear and legible way by every natural or juridical person that

holds a tax credit.

According to the provisions of subsection (d) of Section 1040M, in order to be entitled to claim any of the credits

subject to moratorium in taxable years beginning on or after January 1, 2012, it will be required that the holder of

such credits submit to the Secretary, on or before August 31, 2009, this informative return, under penalties of

perjury, informing the amount of credits granted as of June 30, 2009.

In the case of any other credit granted as of June 30, 2009 under Subtitle A of the Code or any special legislation

that provides tax credits to be claimed against any income, excise or any other tax established by the Code, not

subject to the moratorium provided under Section 1040M, failure to meet the requirement of filing this informative

return will deprive the credit holder of its right to claim such credit in taxable years beginning on or after January 1,

2009.

For purposes of Columns (C) and (D), the term “2008 Return” means the income tax return corresponding to the

taxable year beginning between January 1 and December 31, 2008.

In addition to the credit claimed in previous years, include in Column (C) the amount of the credit sold in prior years,

and the amount claimed or that will be claimed on the 2008 Return.

In the case of Column (E), indicate with “V” if, instead of using the credit, you will sell it, provided that the act under

which such credit was granted allows the sale.

This informative return will be filed at the Department of the Treasury, Returns Processing Bureau, Intendente

Ramírez Building, 10 Paseo Covadonga in Old San Juan, or will be mailed to the following address:

DEPARTMENT OF THE TREASURY

PO BOX 9024140

SAN JUAN, PR 00902-4140

Instruction For A Informative Return Of Department Of The Treasury