{ Banner Image }

Publications Archive

  • Deadline Approaching for Filing Plan Restatements and Certain Specific Amendments
    April 10, 2013

    Sponsors of Qualified Retirement Plans Required to File with Treasury Plan Restatements and Certain Specific Amendments to Meet New Tax Qualification Requirements

  • USCIS publishes revised Employment Eligibility Verification Form I-9
    April 3, 2013

    All employers required to complete Form I-9 for every employee hired in the United States and Puerto Rico.

  • Significant Changes Related to the Family and Medical Leave Act
    April 3, 2013

    U.S. Department of Labor makes various important announcements.

  • Proposed Changes to the Report of Foreign Bank and Financial Accounts
    March 20, 2013

    Financial Crimes Enforcement Network (“FinCen”) publishes for comment its proposed update to the Report of Foreign Bank and Financial Accounts Form.

  • Governor enacts the Jobs Now Act
    March 20, 2013

    Governor Alejandro García-Padilla sigs into law the “Jobs Now Act” (“Ley de Empleos Ahora”) with the goal of creating 50,000 new jobs in 18 months.

  • Regulation for the Interconnection of Generators to the Electrical Transmission and Subtransmission System
    March 12, 2013

    Puerto Rico Electric Power Authority publishes for comment its proposed Regulation for the Interconnection of Generators to the Electrical Transmission and Subtransmission System under the Net Metering Program.

  • Act 154 Excise Tax Amended
    March 7, 2013

    Governor García-Padilla signs Act No.2 to amend Sections 2101 and 2102 of the Puerto Rico Internal Revenue Code of 1994.

  • Severance Pay in Connection with a Reduction in Force not Subject to FICA
    February 5, 2013

    Severance Pay in Connection with a Reduction in Force not Subject to FICA

  • Excise Tax of Act 154-2010
    February 5, 2013

    Bill to Amend the Excise Tax of Act 154-2010 presented.

  • Governor files Jobs Now Act
    January 31, 2013

    Governor Alejandro García-Padilla files Act with the goal of creating 50,000 new jobs in 18 months.

  • PR Treasury Clarifies Rules of Taxation Applicable to Distributions made by Retirement Plans
    January 30, 2013

    PR Treasury Clarifies Rules of Taxation Applicable to Distributions made by Retirement Plans

  • Revised Article 9 of the Uniform Commercial Code (UCC) Becomes Effective
    January 15, 2013

    Revised Article 9 of the Uniform Commercial Code (UCC) Becomes Effective

  • New Taxpayer’s Representatives Services Office at PR Treasury
    January 8, 2013

    New Taxpayer’s Representatives Services Office at PR Treasury

  • Inapplicability of the Closing Act to sales by invitation
    December 10, 2012

    Inapplicability of the Closing Act to sales by invitation

  • Foreign Corrupt Practices Act
    December 4, 2012

    New Guide on U.S. Foreign Corrupt Practices Act Released

  • Extension of Time to Adopt Retirement Plan Amendments and to File Requests for Qualification under PR Internal Revenue Code of 2011
    November 29, 2012

    Extension of Time to Adopt Retirement Plan Amendments and to File Requests for Qualification under the Puerto Rico Internal Revenue Code of 201

  • Puerto Rico’s political landscape changes dramatically; transition process underway
    November 13, 2012

    Puerto Rico’s political landscape changes dramatically; transition process underway

  • PR Treasury Issues Circular Letter to Establish Dollar Limitations for Qualified Retirement Plans
    November 12, 2012

    PR Treasury Issues Circular Letter to Establish Dollar Limitations for Qualified Retirement Plans

  • Treasury Clarifies Limit on Deductions for Contributions to Trusts Funding Qualified Defined Benefit Plans
    November 12, 2012

    Treasury Clarifies Limit on Deductions for Contributions to Trusts Funding Qualified Define

  • McConnell Valdés LLC Receives Tax Firm Of the Year Award
    September 28, 2012

    McConnell Valdés LLC Receives Tax Firm Of the Year Award

  • Recent Legislation Affecting Labor & Employment Law
    September 25, 2012

    Labor Legislation Update: Bill 2160 extends protections of Act No. 100 to military status;  Bill 2381 proposing income tax exemption for severance indemnity payments vetoed.

  • New Exception to Alternative Minimum Tax on Corporations
    September 19, 2012

    New Exception to Alternative Minimum Tax on Corporations

  • Puerto Rico enacts a new Trusts Act
    September 7, 2012

    Act 219-2012 creates a new trusts regime for Puerto Rico

  • Administrative Determination 12-11
    September 7, 2012

    Guidance Issued for Controlled Groups of Corporations Subject to Surtax

  • CRIM amends Regulation No. 7049
    August 28, 2012

    Municipal Revenues Collection Center (CRIM) amends Regulation No. 7049 regarding Foreign Trade Zones

  • U.S.-Organized Political Action Committees Required to Registerand Report to Puerto Rico's Electoral Comptroller
    August 14, 2012

    U.S.-Organized Political Action Committees Required to  Register with and Report to Puerto Rico's Electoral Comptroller

  • Autonomous Municipalities Act Amended to Conform With Permitting Process Reform Act
    August 14, 2012

    Autonomous Municipalities Act Amended to Conform With Permitting Process Reform Act

  • August 10, 2012
  • Administrative Determination 12-10: Deductions Related to Autos
    August 9, 2012

    Actual Expenses for the Deduction Related to the Use and Maintenance of Automobiles Allowed until December 31, 2012

  • Act 128 eliminates Merchants and Businesses Mandatory Registry
    August 9, 2012

    Act 128 eliminates Merchants and Businesses Mandatory Registry

  • Act 118: Sales and Use Tax Exemption for Churches and Religious Organizations
    August 9, 2012

    Sales and Use Tax Exemption for Churches and Religious Organizations

  • ASUME issues notice to employers regarding child support payments
    July 18, 2012

    Administration for Child Support Enforcement ("ASUME") issues notice to employers regarding child support payments

  • U.S. Supreme Court's Upholds Affordable Care Act
    June 29, 2012

    U.S. Supreme Court's Upholds Affordable Care Act

  • Two Bills in the Labor & Employment Law Area Approved
    June 29, 2012

    Two Bills in the Labor & Employment Law Area Approved

  • Recent Developments in Labor and Employment Law
    June 21, 2012

    Recent Developments in Labor and Employment Law: June 2012

  • Deadline Approaching for Plan Qualification Requirements under the 2011 PR Code
    June 20, 2012

    Deadline Approaching for Plan Qualification Requirements under the 2011 PR Code

  • Act 103 Amends Puerto Rico Electric Power Authority’s Net Metering Program
    June 11, 2012

    Act No. 103 Amends Puerto Rico Electric Power Authority's Net Metering Program

  • Act 139: Municipalities Granted the Authority to Exempt Certain Businesses from Municipal Construction Excise Taxes.
    June 6, 2012

    Municipalities Granted the Authority to Exempt Certain Businesses from Municipal Construction Excise Taxes.

  • Deadline Postponed for Displaying NLRB Poster
    April 17, 2012

    Federal Court Postpones Deadline for Private Employers to Display NLRB Poster
    Regarding Employee Rights to Organize Unions

  • New Puerto Rico Moral Rights Act
    April 2, 2012

    New Puerto Rico Moral Rights Act

  • Rules to Request Retroactive Tax Exemption by Not-for-Profit Organizations Published
    March 26, 2012

    Rules to Request Retroactive Tax Exemption by Not-for-Profit Organizations Published

  • PR Treasury issues guidance regarding Title I ERISA Plans
    March 1, 2012

    PR Treasury issues guidance regarding Title I ERISA Plans

  • Related entities must request identification number in order to file 2011 income tax
    March 1, 2012

    Groups of related entities must request identification number in order to file 2011 income tax

  • Durable Power of Attorney Granted
    February 9, 2012

    Civil Code of Puerto Rico ammended to allow granting of  Durable Power
    of Attorney

  • Major Overhaul of Puerto Rico Commercial Transactions Act (UCC)
    February 1, 2012

    : Major Overhaul of Puerto Rico Commercial Transactions Act (UCC)

  • Five-month grace period for filing missing Annual Reports
    January 30, 2012

    Five-month grace period for filing missing Annual Reports

  • House Bill 2378: Incentive Plan on Amounts owed to the State Insurance Fund Corporation
    January 24, 2012

    House Bill 2378: Incentive Plan on Amounts owed to the State Insurance Fund Corporation

  • e-Waste Recycling Act
    January 19, 2012

    Puerto Rico Electronic Equipment Recycling and Disposal Act ("e-Waste Recycling Act")

  • New Income Tax Withholding Tables Issued for 2012
    January 16, 2012

    Puerto Rico Treasury Department Issues New Income Tax Withholding Tables on Wages Paid in 2012

  • Transitory Income Tax Withholding Tables Issued for Wages Paid after December 31, 2010

    Transitory Income Tax Withholding Tables Issued for Wages Paid after December 31, 2010

The content of this McV Alert has been prepared for information purposes only. It is not intended as, and does not constitute, either legal advice or solicitation of any prospective client. An attorney-client relationship with McConnell Valdés LLC cannot be formed by reading or responding to this McV Alert. Such a relationship may be formed only by express agreement with McConnell Valdés LLC.

Jump to Page
Our Offices