Puerto Rico Act 60 Tax Exemptions: IRS Examination and Audits, Key Issues for Individual and Business Taxpayers

On November 11, 2025, Mark Leeds participated in a Strafford Webinar entitled, “Puerto Rico Act 60 Tax Exemptions: IRS Examination and Audits, Key Issues for Individual and Business Taxpayers.” Mark’s portion of the presentation focused on the U.S. federal income tax aspects of individuals who become bona fide residents of Puerto Rico. This portion of the presentation focused on how to establish Puerto Rico residency and when income earned by a bona fide resident of Puerto Rico should be considered to have earned Puerto Rico-source income. Mark also covered recent IRS challenges to positions taken by certain taxpayers that income is Puerto Rico-source income. A copy of the presentation that accompanied the speech can be found here.

Click here to view the recording.