Puerto Rico Releases 2022 Withholding Statements (1)

Puerto Rico’s 2022 Form 499R-2/W-2PR, Withholding Statement, and its correction form were released July 20 by the territory’s treasury department.

The changes to Form 499R-2/W-2PR include a new option in the box labeled “Indicate if the remuneration includes payments to the employee for:" to indicate that the reported employee is a direct employee, meaning a Puerto Rico resident working as an employee for a business that has a tax exemption under the Economic Incentives for the Development of Puerto Rico Act, including the number of hours the employee worked in the year. If the employee is assigned or leased to ...