Electronic Filing Requirements for Forms 499R-2/W-2PR

The Puerto Rico Treasury Department issued the Publication 17-04 including the new electronic filing requirements for Forms 499R-2/W-2PR for 2017.

What’s new

• a box was added to include the disaster assistance qualified payments according to Administrative Determination 17-21.
• exempt salaries paid for any of the following concepts must be informed with the applicable code:
  • public employees’ wages for overtime worked during emergency situations.
  • income from overtime worked by a Puerto Rico Police member
  • stipends received by certain physicians during the internship period.
  • compensation paid to an eligible researcher or scientist services.
  • salary not over $40,000 per year to employees between ages of 16 and 26.
  • vacation and sick leave liquidation payment to public employees.
  • disaster assistance qualified payment.
• there are some editorial changes and corrections for clarification purposes, please refer to forms instructions.

Filing reminders

• the W-2PR forms filing due date is January 31, 2018
• the Department will not accept forms printed without the confirmation number (handwritten or typed confirmation numbers on the forms) will automatically invalid the forms
• the Department of the Treasury has required the electronic filing of Form AS 2727 “Request of Extension of Time to File the Withholding Statement (W-2PR) and Reconciliation Statement of Income Tax Withheld (499R-3).  The electronic application is available through the PRTD’s website.  Filings in paper form, via fax, mail or any other method will be considered as not filed
• the social security wage base for the tax year 2017 is $127,200
• the contributions to CODA cannot exceed $24,000.

Links: Publication 17-04

At Kevane Grant Thornton we provide our clients with personalized attention, valuable advice and recommendations, tailored solutions and direct access to technical experts to help clients resolve issues and identify opportunities.