US Tax Law: Made in Puerto Rico

00:00 - Intro
2:00 - Act 22, IDRs, and Cryptocurrency
6:00 - Filing Taxes for Cryptocurrency
10:29 - Section 937 and Section 954
14:48 - Act 20
19:26 - FTX, Sam Bankman-Fried
23:32 - DDEC
27:43 - Looking to Invest in Puerto Rico?
The IRS is cracking down on tax exemption for cryptocurrency in Puerto Rico.
In this episode of Taking Shelter, Peter Palsen and Giovanni Mendez discuss what investors may want to consider to balance the benefits of Puerto Rico’s tax incentives along with strict international tax law compliance requirements.
The IRS’s plans to increase audits for investors involved in the Act 22 and Act 60 program, alongside changes in cryptocurrency categorization, could alter tax liabilities for certain types of investing activities in Puerto Rico.
Get more information about the topics that affect you!
🌎Website - askfrost.com
💼LinkedIn - / frost-&-associates
📘Facebook - / frosttaxlaw
🐤Twitter - / irstaxissues
Resources:
More about Act 60, Act 20, and Act 22 - askfrost.com/news/puerto-rico...
Puerto Rico Update - • IRS Campaigns: Puerto ...
Giovanni Mendez website: geo.tax/
About Frost Law:
Frost Law is comprised of skilled tax attorneys, business attorneys, litigation attorneys, estates attorneys, Certified Public Accountants, Certified Financial Planners, and other tax professionals. We have been serving clients across the country and abroad.
We have office locations on the East Coast in Maryland, Virginia, Washington, D.C., Pennsylvania, Florida and serve clients internationally.
DISCLAIMER: This video is not legal, tax, or financial advice. Talk with a professional about your situation before making any legal or financial decisions.
#puertorico #taxincentives #act60 #internationaltax #act22 #cryptocurrency