Public urged to file tax returns as soon as possible, apply for credits
By John McPhaul
jpmcphaul@gmail.com
Treasury Secretary Francisco Parés Alicea announced on Thursday that the Individual Income Tax Return for the 2021 tax year will be available in mid-February through the Unified Internal Revenue System (SURI by its Spanish acronym) and urged citizens to seek guidance so that they benefit from the important package of tax credits, which represent the distribution of some $2.5 billion.
“The Income Tax Return for the year 2021 is historic because it contains five credits available to taxpayers, which can become important refunds that will strengthen the budget of many families,” Parés Alicea said in a written statement. “In addition to the Credit for Work, for which we are going to distribute $800 million, and the American Opportunity Credit, we have other credits related to the COVID-19 pandemic, for which many citizens will be able to opt.”
Likewise, Gov. Pedro Pierluisi Urrutia urged people to find out about each of the credits so that they can request the ones that apply to them as soon as possible.
“As a government, we are working to ensure that they have the necessary information and access so that everyone on the island can take advantage of the benefits to which they are entitled,” the governor said. “The income credit will be included in the 2021 Individual Income Tax Return and represents an important economic injection for working families. In addition, they will be able to opt for the Credit for Minor Dependents, through a federal form, which means direct assistance to all our families with children. We are going to be educating about credits during these months, and we will have help centers throughout Puerto Rico so that many people take advantage of this moment.”
The Treasury secretary said: “Our recommendation is that you file your returns as soon as possible and make sure you include all the required evidence, both in the case of credits included in the Treasury return and in the federal return. They must also verify that your name, Social Security number, bank account number, or mailing address are correct. Because they are federal reimbursements, the evaluation is always stricter and takes more time than a form without reimbursements.”
“We anticipate that contrary to other years, taxpayers will be very actively filing once the return is available, in about three weeks,” Parés Alicea added. “We are going to maintain an orientation campaign on the different platforms, explaining the reimbursement opportunities that taxpayers have throughout the cycle that ends on April 18.”