Puerto Rico Releases Form 480.6B for TY 2018

October 26, 2018 Paul Ogawa

The Departamento de Hacienda of Puerto Rico recently released Form 480.6B, Informative Return – Income Subject to Withholding. This form must be prepared by every person engaged in trade or business in Puerto Rico that has made payments subject to withholding.

There are a number of updates to the TY 2018 version of this form, which include:

  • Additional boxes pertaining to payee information, including Special Contributions for Professional and Advisory Services under Act 48-2013; Reimbursed Expenses; and Responsibility of Payment to Health Providers.
    • These payment types are reflected throughout the form, including the Payer and Payee instructions.
  • Boxes for payments relating to “Health Services” and “Physicians Act of 14-2017” under Types of Income.
  • Updated instructions relating to payments made to health service providers of physicians under Act 14-2017.
  • A change to how to report payments exempt from Box 3 – Payments for Judicial or Extrajudicial Indemnification;
    • Formerly these exempt payments were reportable on Form 480.6D, but are now reportable in Boxes 16/16A/16B on Form 499R-2/W-2PR.

To review this form in full, please click here.

About the Author

Paul Ogawa is a Junior Regulatory Counsel at Sovos Compliance. As part of the Regulatory Analysis team, his main areas of focus are state and federal tax withholding, the Affordable Care Act (ACA), and Canadian tax information reporting. Prior to Sovos, Paul worked as a litigation attorney in Boston area law firms, representing clients in insurance subrogation claims, family law matters, and employment disputes. Paul is a member of the Massachusetts Bar, earned his B.A. from Brandeis University and his J.D. from the Suffolk University Law School.

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