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Reporting Requirements Internal Revenue Service Puerto Rico

Littler

Puerto Rico Department of the Treasury Announces 2025 Limits on Qualified Retirement Plans

Littler on

On January 23, 2025, the Puerto Rico Department of the Treasury issued Internal Revenue Circular Letter No. 24-01 (CL IR 24-01) announcing the applicable 2024 limits for Puerto Rico qualified retirement plans. Pursuant to...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Puerto Rico’s Taxation of Severance Payments

Employers considering reductions in force in Puerto Rico should be aware that the rules on the taxation of severance pay in the United States and Puerto Rico are different. The U.S. rule is straightforward: severance pay...more

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