P.R. Laws tit. 13, § 31128
(a) Granting the time extension. — When the Secretary determines that paying any portion of the taxes imposed on the time established to make such payment would impose an onerous burden on the taxpayer, the Secretary may, after the person with such tax liability has made a written request, grant a time extension on the date of payment of such portion of taxes for a period that shall not exceed:
(1) Taxes according to tax return. — As for decedent’s estate or gift taxes determined according to the information reported on the filed tax return, ten (10) years counting from the time of death or the time the gift was made.
(2) Decedent’s estate and gift tax deficiencies. — As for deficiencies in decedent’s estate taxes as well as in gift taxes as determined by the Secretary, three (3) years counting from the date such deficiency is imposed and assessed.
(b) Negligence. — In the cases established in subsection (a)(2), no time extension whatsoever shall be granted if the deficiency has been caused by negligence or by intentional disregard of rules and regulations or by fraud with the intent to evade payment of taxes.
(c) Bond. — When a time extension has been granted for payment of taxes or deficiencies pursuant to the provisions of this section, the Secretary may demand that a bond be posted before him/her, subject to his/her approval, which bond shall not be greater than double the amount of the taxes for which the time extension was thus granted, with such securities as the Secretary may judge necessary.
(d) Accepting as security for properties part of the decedent’s estate or being given as a gift. — Properties that are part of a decedent’s estate or which are being given as a gift may be accepted by the Secretary, for purposes of meeting the bond requirement mandated by subsection (c) if, in the Secretary’s judgment, the value of such properties constitute sufficient security for the payment of taxes pursuant to the terms of the time extension.
History —Jan. 31, 2011, No. 1, § 2051.08, retroactive to Jan. 1, 2011.