Puerto Rico is facing a severe fiscal crisis. Observers agree that the island’s public entities are unable to repay their debts on time and in full, making default and debt restructuring inevitable.
In the past 10 years, the size of the local economy has shrunk by 14 percent, total employment has dropped by 21 percent (more than 250,000 jobs) and the total population has decreased by 9 ...
Every U.S. citizen is subject to the provisions of the United States Internal Revenue Code ("USIRC") regardless of their place of work or residence. Since people born in Puerto Rico are U.S. citizens, they are ...