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From our Blog

The IRS investigates around a 100 Act 60 (22) decree holders

Do you owe taxes? On July 14th, the IRS released its newsletter IR-2023-126 and revealed that “thanks to Inflation Reduction Act resources,” it has begun a criminal crackdown on Act 20/22/60 participants engaging in a ”high-dollar scheme in Puerto Rico.” The IRS has “identified about 100 high-income individuals claiming benefits in Puerto Rico without meeting the residence and source rules involving U.S. possessions” and believes “these wealthy individuals are attempting…  Read more

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