Puerto Rico Employment Status Form
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How to fill out Puerto Rico Employment Status Form?
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FAQ
Firms and workers file Form SS-8 to request a determination of the status of a worker for purposes of federal employment taxes and income tax withholding.
An individual is considered to be a bona fide resident of Puerto Rico if three tests are met. The individual must be present for at least 183 days during the taxable year in Puerto Rico or satisfy one of the other four presence tests (the presence test).
ContributionsEmployer. 6.2% FICA Social Security (Federal) 1.45% FICA Medicare (Federal) 0.90%6.20% FICA Social Security (Federal) (Maximum 142,800 USD) 1.45% FICA Medicare (Federal) 0.90%Employee. Employee Income Tax. 0.00% Not over 9,000 USD. 7.00%
Form 499-R-1C (Adjustments to Income Tax Withheld Worksheet) Form 499R2/W2PR (Withholding Statement) - This withholding statement is the Puerto Rico equivalent of the U.S. Form W2 and should be prepared for every employee.
If you are a U.S. citizen who is also a bona fide resident of Puerto Rico during the fiscal year but receive income as a U.S. government employee in Puerto Rico, you must file a federal tax return.
2 As a result, although Puerto Rico belongs to the United States and most of its residents are U.S. citizens, the income earned in Puerto Rico is considered foreign- source income and Puerto Rico corporations are considered foreign.
If you are a bona fide resident of Puerto Rico during the entire tax year, you'll file the following returns: A Puerto Rico tax return (Form 482) reporting your worldwide income. A U.S. tax return (Form 1040) reporting your worldwide income. However, this 1040 will exclude your Puerto Rico income.
If you're a bona fide resident of Puerto Rico during the entire tax year, you generally aren't required to file a U.S. federal income tax return if your only income is from sources within Puerto Rico.
To exclude Puerto Rico income from a return where the taxpayer is a bona fide resident of Puerto Rico, from the Main Menu of the tax return (Form 1040) select: Income menu. Other income. Section 933 Excluded Income from Puerto Rico.
Form 1040-PR is for residents of the Commonwealth of Puerto Rico (PR) who are not required to file a United States (US) Form 1040, Form 1040A, or Form 1040EZ income tax return. Form 1040-PR is generally used to report and pay self-employment income tax to the US.
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It is common for companies to hire one person who will be part of the team. For example, at a software company, it would be best if the lead developer did the majority of the work, but also spent time with his or her family. At an education company, a project manager takes over a particular project and does the majority (or all) of the administrative tasks like creating a schedule and the like. To the employee, it is great that there is only one person, but there is no one to work with. There are times when an employee needs one to work with, but, at the same time, that person does not want to give up their responsibilities and be part of a team that provides support. With one on employee leave, the employee can have the autonomy to work on their work as well as spend time with their families. It may be a time for an employee who is being replaced to get the opportunity to learn a new role, to find a new co-worker, or to move to a new area.
