Act 20/Act 22

ReyP wrote:

There been several postings about act 20 and 22, have you searched, there are companies that will walk you thru the process, advice you and help you file. I would recommend to stay in the staters un till you get a go ahead that you been accepted.

Also there are one or more act 20 / 22 groups in Facebook.

Thank you!  I will check that out!

ReyP wrote:

There is one rule you need be careful with, and that is that you must not have lived in PR for the last 6 years in oder to qualify. So check it he rules well.

Nope!  Been in AZ, TX and CO for the past years... and now PR.  I'm getting too old for this... LOL!

My husband is in touch with an attorney in Dorado who is working with him.  I was just curious to know if anyone on this forum had gone through the process. 

We will be in Condado Aug. 30 to Sept. 5...  Looking forward to it!

PattiAnn wrote:

Met someone from CA; they're being audited.

You mean IRS is auditing them?

davidtx wrote:

Thanks for the shout out Karen.  Also, in case not everyone is aware, there is new legislation regarding both of these acts.  One bill relaxes the 5 employee requirement for Act 20 (the exact number would be given on a case by case basis).  Another bill mandates that Act 22 grantees donate $5000 a year to a Puerto Rican charity.  I believe both of these bills are just awaiting signature by the governor.

David

Love your blog!  Been reading everything... very interesting!

Thanks, Karen!

Aharkness wrote:

Anyone on here living in PR with Act 20 or Act 22 status?

I help those relocating to PR due to the Act 20/22. Also, I Have several friends & customers that have made the move and they're happy they did. There has only been minor changes in the law. I'm part of a Facebook group for Act 20/22 where there's lots of help in that regard and also great recommendations.  If need of any contacts I'll gladly PM you with some.