Understanding the Core Pillars of Act 60 Compliance
Annual Reporting and Filing Obligations
The High Cost of Non-Compliance: A Market Perspective
Frequently Asked Questions
What is the most common mistake people make with Act 60 compliance?
One of the most frequent and costly mistakes is failing the Bona Fide Residency test. Many new decree holders underestimate the level of personal and financial integration required to be considered a genuine resident of Puerto Rico. Simply buying a property and meeting the 183-day presence test is often not enough. Our review helps identify weaknesses in your residency claim before they become a problem.
How does your AI review differ from a traditional CPA review?
While a CPA provides essential advice, our AI platform can analyze hundreds of data points simultaneously, cross-referencing information from your tax returns, financial statements, and other documents against a comprehensive database of Act 60 rules and IRS audit triggers. This allows us to spot potential inconsistencies and red flags that may be missed in a manual review. Our process is then CPA-verified to ensure accuracy and relevance.
Is Act60Review a substitute for a CPA?
No. Act60Review is designed to be a powerful second opinion and a tool to augment the work of your existing tax advisors. We do not provide tax, legal, or accounting advice. Our platform is designed to catch potential issues and provide you with a detailed report that you can then discuss with your CPA to make informed decisions.
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This content is for informational purposes only and does not constitute tax, legal, or accounting advice.