BDO TAX UPDATES


By Patricia Wangen and Nelson R. Maldonado | April 08 2020

CARES Act Economic Impact Payments

On March 30, 2020, the IRS announced that distribution of economic impact payments afforded under the Coronavirus Aid, Relief, and Economic Security Act (commonly known as CARES Act) will begin in the next 3 weeks and will be distributed automatically.


By Patricia Wangen and Nelson R. Maldonado | April 06 2020

IRS’ People First Initiative and measures taken as a result of COVID-19 crisis

The Internal Revenue Service (IRS) is currently working on different measures and new legislation in order to assist taxpayers by providing relief on a variety of issues that have risen due to COVID-19. As a result, it created the People First Initiative in order to provide...


By Dialy Otero and Gaby Hernandez | March 31 2020

Tax Update: Major Disaster Declaration For Puerto Rico Due To Covid-19

Act 22 Grantees and other bona fide residents of Puerto Rico need to be present in Puerto Rico a minimum of 183 days during each taxable year to maintain their status as bona fide residents.


By Dialy Otero | March 27 2020

Puerto Rico May Be Your Best Business Decision

We are currently experiencing the life-changing effects of COVID-19. Everyone in the world is focused on mitigating the impact of coronavirus. Caring for our families, employees and communities is our top priority.During these critical times, we might be tempted to start...


By Nelson R. Maldonado and Patricia Wangen | March 27 2020

New changes to deadlines in light of COVID-19

Tax updates and guidelines to extend due dates for filing tax returns.


By Nelson R. Maldonado and Patricia Wangen | March 25 2020

IRS Postpones 2019 Tax Day: New Date July 15th

Treasury Secretary Steven Mnuchin (“Secretary”) announced on March 20, 2020 that US Tax Day will be moved to July 15th, 2020 in response to the ongoing COVID-19 pandemic. Subsequently, the Internal Revenue Service released Notice 2020-18 (“Notice 20-18”) announcing formal...


By Nelson R. Maldonado and Patricia Wangen | March 24 2020

Puerto Rico’s Economic Reliefs Announced

On March 23, 2020, the governor of Puerto Rico announced a $787 million financial package intended to ease the economic consequences stemming from the coronavirus (COVID-19) outbreak by providing various incentives to different sectors of the economy.


By Nelson R. Maldonado and Patricia Wangen | March 23 2020

Sales and Use Tax Exemption Approved

We continue to update you in addressing the challenges of the Coronavirus (COVID-19) to guide you as we all adapt, adjust and move forward.


By Nelson R. Maldonado and Patricia Wangen | March 18 2020

Due Date Guidelines in Light of COVID-19

We continue to update you in addressing the challenges of the Coronavirus (COVID-19) as we move forward during these unique circumstances. We have taken steps to make sure we continue to deliver the level of quality, timeliness and excellence in which you are accustomed and...