Form 480 Professional Services in Puerto Rico: Declaration of Information – 480.6SP

When an employer wants to relate to Department of Finance data about the payment of any employee, it is necessary that you use a series of Informative Declarations (Dec.Inf.), which are part of a conglomerate called Form 480.

Of all these in this specific case, it is necessary to know about the Informative Statement which is used in case of Services provided.

Steps to complete Form 480 Professional Services: Information Declaration 480.6SP

Through the Form 480.6SP, the employer must relate to Estate each of the payments you have made, for concept of services provided. This form is filled out Following way:

1. Include the Company data (Who is the withholding agent?), employer identification number, name, address with zip code, telephone number and email.
2. Write the data of the natural or legal person, who receives the payment, as well as the social security number or employer identification number (according to the case), name and direction.
3. Relate the amount that has been withheld under the figure of Special Contribution, due to Professional and Consulting Services, according to 48-2013 law (This box is only used in the case of a public institution or government agency.).
4. In the Reimbursed expenses, must include the amount reimbursed to the service provider company; for reasons of payments made by it, always against invoice.
5. In the box of Payment to Health Providers, you must indicate the amount that the insured pays the health service provider, relating to deductible, copays and coinsurance (only if the insurer that awarded the contract to the aforementioned provider is represented).
6. Include the Relief Certificate Number, that appears in the Withholding Release Certification issued by the Treasury, when it has been delivered by the service provider.
7. Point out the option "Health services" If the amount reported within the column "amount paid", includes payments made to health service providers.
8. check the option “Medical Law 14-2017, as amended”, If the amount reported within the column "amount paid"; includes payments to medical professionals surgeons.
9. Select the option “Health Professionals under Circular Letter No. 20-1”, when the quantity reported within the column "amount paid"; contains payments to healthcare professionals, such as: resident nurses or doctors.
10. Indicate receipt of the copy of the relief certificate, which comes from the service provider.
11. Indicate if the amount reported within the column "amount paid" relates to payments of outsourced services by the company.
12. In the boxes 1 and 2 payments must be related to $ 500 dollars, which have been carried out by professional services, either by individuals (box 1) or societies and corporations (box 2), which have not been subject to withholding of origin.
13. Within boxes 3 and 4, include all payment for professional services, both for individuals (box 3) as per societies and corporations (box 4), which have been subject to withholding of origin.
14. En "Amount paid", Any payment made within the natural year, according to the categories described in the boxes 1, 2, 3 and 4. In “Amount Withheld”, Any withholding made under the provision of section 1062.03, which belongs to Internal Revenue Code.

What is Form 480?

El Form 480 It is a set of forms that are called: “Informative Statements”, which relate certain data of tax nature before him Department of Finance.

Each of these Informative Statements, They have a different coding although they all maintain the root 480 figure. In addition, each full code will correspond to the type of information being declared.

What is Form 480 for?

The different forms that make up the Form 480, They are used to record tax data before him Department of Finance. Each of these sheets represents a specific coding; depending on the information they contain.

For example, the informative statement where the employer; must relate the payments made for professional services is the Form 480.6SP.

Types of Informative Declaration Form 480

    Form 6A

“Informative Return – Other Income not subject to Withholding”.

Intended for people with businesses or industries that make payments to people, within the natural or legal type (not subject to withholding).

    Form 6B

“Informative Return – Other Income subject to Withholding”.

It is used by those people who have any Comercial activity (business or industry), which generate payments to both natural and legal persons, except for the payments for services provided.

    Form 6B.1

“Annual Reconciliation Statement of other Income subject to Withholding.”

It is associated with Form 480.6B.

    Form 6C

“Informative Return – Payments to non-residents or for services from sources outside of Puerto Rico.”

    Form 1(SC)

Informative spreadsheet on corporate income – combined.

    Form 2(CPT)

Informative Form on Employee-Owned Corporation Income.

You can see all the available models of all the Informative Declaration forms; from the Official Web Portal of the Department of Finance: https://hacienda.pr.gov.

What is Form 480.6SP?

It is the declaration of Information that must be made by people who have commercial activities such as businesses or industries, within the Puerto Rican territory and that also execute payments for services provided; both to natural and legal persons.

Every withholding or paying agent is in the obligation to deduct and to retention at the origin of payment for the service provided. He must also record the Form 480 6SP.2 about him Annual Reconciliation Statement, for services rendered.

What is Form 480.6SP for?

El Form 480.6SP, usually serves for the employer to inform the Department of the Treasury about each of the payments made under the professional services concept, consultative services, health providers or other service provision, well it's about individuals, companies or corporations; that have been loose or not to the annual withholding.

If the Form 480.6SP, before him Department of Finance or any expense is no longer related, the person responsible will be penalized as established; in it Internal Revenue Code.

Where do I get Form 480.6SP?

El Form 480.6SP, can be obtained through the following ways:

1. Requesting it in person, at an office of the Treasury Department.
2. Electronically, through the SURI Unified Internal Revenue System.

Who must submit Form 480.6SP?

This form must be completed by all people who are dedicated to Comercial activity, through businesses or industries within Puerto Rico and that also make payments to people, both natural and legal for services provided.

When and How to submit Form 480.6SP?

This declaration is rendered electronically, before the Department of Finance no later than the day February 28 of the following year, where payments were made.

Once the declaration of the Form 480.6SP, doors Estate there is a maximum period of 7 days; to deliver two copies of said declaration to natural or legal person, to which the company has made payments.

Cost of Form 480.6SP

Request or submit the Form 480.6SP, there is no cost since it is completely free. But, if you require or wish to request copy of Form 480.6SP, that have already been recorded in the Department of Finance; must be included 1 Internal Revenue stamp for each requested document.

How do I obtain a copy of Form 480?

Consigning the following precautions:

1. Model Form SC 2907, Request for Copy of Return, Inheritance and Donation Relief”.
2. 1 Revenue Stamp for each copy of document requested. Cash should not be sent.
3. 1 copy of the ID card of the business owner or his representative (according to the case).
4. Submit all requirements to the Department of Finance, at its main office or by postal mail. It can also be delivered to Taxpayer Service Centers.

When the procedure is requested by a representative, the Model SC 2745 plus a letter from the taxpayer authorizing the request or the Power of Attorney declaring the Representation.

Who must file Form 480?

Any person, whether natural or legal, who is dedicated to the industry or business in Puerto Rico and who also makes payments of fixed or determinable income, for $500 dollars or more to individuals, trusts or entities; is required to submit an informative statement.

How to request a copy of the W-2PR Withholding Certificate?

To request a copy of the W-2PR Withholding Voucher, as well as the Form 480 must complete the Model Form SC 2907.

To then download the form, click here: https://hacienda.pr.gov/documentos/modelo-sc-2907-solicitud-de-copia-de-planilla-relevo-de-herencia-y-de-donacion-e-instruccionesform-29071-request-copy-return-estate-or-gift-certificate-release.  

Then you must check the box Other and write the form name; of which you want a copy.

Fonts

https://hacienda.pr.gov

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