The Internal Revenue Service announced its plan to pursue as many as 100 criminal investigations into potential abuses of Puerto Rico’s Act 20/22/60 tax incentive programs.
In a July 14, 2023, release the IRS revealed that thanks to Inflation Reduction Act resources:
It Recently Identified About 100 High-Income Individuals Claiming Benefits In Puerto Rico Without Meeting The Residence And Source Rules Involving U.S. Possessions.
"These wealthy individuals are attempting to avoid U.S. taxation on U.S. source income, and we expect many of these cases to proceed to criminal investigation."
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