Deconstructing IRS Campaign 685: The New Era of Act 60 Enforcement
Pinpointing the Red Flags: Key Audit Triggers for Act 60 Beneficiaries
Fortifying Your Position: Proactive Compliance in the Face of IRS Scrutiny
Frequently Asked Questions
What is the main focus of IRS Campaign 685?
It primarily targets U.S. citizens who have claimed tax benefits under Puerto Rico's Act 60 (formerly Acts 20/22) without meeting the strict residency and income sourcing requirements as defined under U.S. tax law, particularly IRC Section 937.
How does Act60Review help with Campaign 685?
Our AI-powered platform conducts a comprehensive review of your tax situation against 200+ compliance rules, including those specifically targeted by Campaign 685. This CPA-verified process is designed to catch potential inconsistencies that could trigger an audit.
Is a CPA firm's review enough to be safe?
While traditional CPA reviews are essential, they can be expensive and may not have the specific focus on the nuances of Act 60 that AI tools do. Our platform offers a specialized second opinion, processing thousands of data points to provide a more thorough analysis, which can complement your CPA's work.
What is the difference between residency and physical presence?
The 183-day physical presence test is just one part of establishing bona fide residency. The IRS also applies the 'tax home' and 'closer connection' tests, which analyze your economic and personal ties to determine your true place of residence for tax purposes.
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This content is for informational purposes only and does not constitute tax, legal, or accounting advice.