Monday, October 26, 2020

Treasury Publishes 3rd List of Debtors

By on May 29, 2016

SAN JUAN – The Puerto Rico Treasury Department has published its third list of taxpayers in arrears. According to a release Sunday, the debtors appear in the department’s records as having income tax debt of $50,000 or more, The new list’s 19 businesses owe nearly $24 million.

The business owing most is First Allmerica Financial Life Insurance Puerto Rico, with a nearly $5 million debt. Debtors John Hancock Mutual Life Insurance and John Hancock Variable Life Insurance owe some $3.3 million and $2.4 million, respectively. Antonio Ortega is behind nearly $3 million, as is Teresa Amorín Rodríguez, with a $2.7 million debt.

The list includes the debtor’s name, commercial name (if available in Treasury records), the total amount of the tax debt, the type of debt and the municipality of the last known address.

Treasury Debt 3To date, the list of debtors totals 60 taxpayers, owing nearly $64 million in taxes.

Before publishing the list, a notice is sent via certified mail in which the tax debt is detailed. The notice grants 30 days to “correct the situation in accordance with the provisions of the Internal Revenue Code,” Secretary Juan Zaragoza explained in the release.

He added that Act 163, or the Effective Mechanisms for Tax Oversight Act, “provides additional tools to carry out the audit work and grants the right to publish a list of taxpayers.”

Treasury considers debt in arrears when it is late 90 or more days.

Those who reach an agreement with Treasury should be removed from the list within 10 days.



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