What is the Form for?
Many residents of Puerto Rico are required to file Form 1040 just like the rest of the US citizens who file the normal federal income tax return. However, some residents of Puerto Rico are required to file Form 1040 PR. Form 1040 PR is very similar to the standard federal tax return Form 1040, except for the fact that it is written in Spanish. Examples of those required to file the form as their annual income tax return are those who:
earn income from a church
are required to pay FICA taxes
pay for Social Security and Medicare
pay Federal Unemployment Tax
Important Points to Consider
First, some residents of Puerto Rico are required to fill out Form 1040 PR in addition to the regular Form 1040. For example, those who are part-time self-employed workers and also part-time employees of a traditional company may be required to file both forms.
Second, many citizens of the United States are able to avoid owing a hefty tax burden at the end of the year by paying the taxes a little at a time, throughout the year. Residents of Puerto Rico have the same opportunities.
Third, when it comes to self-employed residents of Puerto Rico, only those who earn more than $400 in self-employed income. Those who do not reach this threshold may still need to file Form 1040 PR, but not for the reason of self-employment tax.
Other Relating Documents
-Form 1040 – the standard tax return form for US citizens
-Form 1040SS – the standard self-employment tax return form for US citizens
-Form 1040 PR – the Spanish equivalent of Form 1040SS
Now check your tax refund status 2012 from here.