Newsletter:

Tax Events - April 2019

March 29 2019

April 10

Use Tax on Imports Monthly Returns (Form SC 2915.1 D) for the month of March (Electronic filing through SURI online site).

Monthly Excise Tax Return and payment (Form SC 2225) (Electronic filing through SURI online site).

April 15

Deposit of 10% or 6% of income tax withheld from payments made during March for services rendered (Payment Voucher 480.9A) (Electronic filing through SURI online site).

US Individual Income Tax Return (Form 1040) for calendar year 2018; or request for Automatic Extension of Time (6 months) to file the US Individual Income Tax Return (Form 4868).

US Corporate Income Tax Return (Form 1120) for calendar year 2018; or request for Automatic Extension of Time (6 months) to file the US Corporate Income Tax Return (Form 7004).

US Individual and Corporate Estimated Income Tax Payment for 2019 - First Installment (Form 1040-ES).

PR Individual Income Tax Return electronic filing (Form 482.0) for calendar year 2018; or request for Automatic Extension of 6 months (Form SC 2644).

PR Individual Estimated Income Tax Payment for 2019 - First Installment Payment (Form 480-E.1).

PR Corporation Taxable, Incentives, Non for Profit & Trust, Income Tax Returns for calendar year 2018; or request for Automatic 6-months Extension to file PR Corporation Income Tax Return (Form SC 2644).

PR Composite Return Partners and Individual Members of Partnerships and Limited Liability Companies (Form 482.0(C)) for the taxable year ended December 2018; or request for Automatic 6-months Extension to file the Return (Form SC 2644).

Nonresident Annual Return of Income Tax Withheld at Source (Form 480.30). (NEW Electronic filing through SURI online site).

Informative Return on Income Subject to Withholding to Nonresidents (Form 480.6C). (NEW Electronic filing through SURI online site).

Last day for individuals to notify financial institutions of election to have 10% tax withheld on interest from deposits and to select the institution that will apply the $500 exemption over interest paid for the calendar year 2019.

Last day for individuals to contribute to an Individual Retirement Account and take the deduction on the 2018 PR Individual Income Tax Return (if no extension of time to file the income tax returns is requested).

FICA monthly depositors, for the month of March (Form 941) (Electronic filing through EFTPS online site).

2018 Corporate Annual Report and LLC Annual Fee filed with the Puerto Rico Department of State (electronic filing); or request for Extension of Time (60 days) to file Corporate Annual Report. This request must be made electronically and must include the payment for the filing fee.

Chauffeurs Social Security 1st quarter payment (Form TSCH-1).

Bi-monthly Sales and Use Tax Estimated Payments for those who are regarded as a Large Taxpayer pursuant to PR IRC Section 1010.01(a)(35); and whose average monthly SUT deposited during the previous calendar year exceeded $2,000. (Electronic filing through SURI online site).

Exempt Annual Report to be filed with OECI (electronic filing through website) – Pass-Through Entities (Partnership, Special Partnership and Corporation of Individuals) – calendar year 2018 unless a request for extension to file the income tax return was filed.

Deposit of 4% monthly excise tax on foreign entities (Form 480.36).

Deposit of 29% tax withheld at source on payments to foreign persons in excess of $200 during the month of March (Form 480.31). (Electronic filing through SURI online site).

Deposit of Estimated Income Tax by Corporations and Pass-through entities, Partnerships, Special Partnerships and Corporations of Individuals (voucher 480. E-1):

FISCAL YEAR

INSTALLMENT

April 30, 2019

4th Installment

July 31, 2019

3rd Installment

October 31, 2019

2nd Installment

December 31, 2019

1st Installment

Deposit tax withheld at source on dividends, partnership profit distributions, interests and 10% penalty on IRA during the month of March (Form 480.9).

April 22

Sales and Use Tax Monthly Return (Form SC 2915) for the month of March (Electronic filing through SURI online site).

Sales and Use Tax Monthly Municipal Return for the month of March (Electronic filing through SURI online site).

April 23

Municipal License Tax Declaration (19-20) (Form OCAM PA01): Last day to pay with a 5% discount (OGP Circular Letter 162-19).

Last day to file the request for extension of time (up to 6 months) to file the Municipal License Tax Declaration 2019-2020) (Form OCAM PA01).

April 30

Affirmative Declaration of Transactional Accounts for applicable requests or extensions of credits approved by the financial business during the month of March.

Bi-monthly Sales and Use Tax Estimated Payments for those who are regarded as a Large Taxpayers pursuant to PR IRC Section 1010.01(a)(35); and whose average monthly SUT deposited during the previous calendar year exceeded $2,000 (Electronic filing through SURI online site).

Last day to file the new quarterly reconciliation report showing the payments made for services subject to PR income tax withholding pursuant to Section 1062.03 and the corresponding income tax withheld and remitted during the quarter ended March 31, 2019. (NEW Electronic filing through SURI online site. Form not yet available by publication date of BDO Tax Events Newsletter.)

Quarterly Returns (Q-1)

  • Form 499 R-1B Quarterly Report of Income Tax Withheld
  • PR Employer’s Quarterly Federal Tax Return FICA Quarterly Tax Return (941-PR) and FUTA Tax Return (940-PR).
  • Form PRSD 10 Declaration of Unemployment and Disability Insurance (Form PR-UI-10 and PR-UI-10A) (electronic filing also available).

Last day to submit any claim to a timely-filed Original Application for the Refundable Tax Credit for Employee Retention after 2017 hurricanes pursuant to the additional extension and provisions included in Informative Bulletin 19-01.

Supplemental Schedules required pursuant to Act 163 of 2014 for corporations with year ended on May 31, 2018 (with six-month extension, pursuant to Administrative Determination 18-07).

Supplemental Schedules required pursuant to Act 163 of 2014 for corporations with year ended on November 30, 2018, if Income Tax Return was filed in March.

Supplemental Schedules required pursuant to Act 163 of 2014 for Pass-Through Entities with fiscal year ended on June 30, 2018 (with six-month extension, pursuant to Administrative Determination 18-07).

Supplemental Schedules required pursuant to Act 163 of 2014 for Pass-Through Entities with year ended on December 31, 2018, if Income Tax Return was filed in March.