Income Tax Refund

Lisa
For some reason your post came up on a Starbucks coffee thread and then moved... How does that happen? The answer is the same.

oldguy

Actually I read in the Daily News about tax refunds. According to VI law, they have to pay interest on refunds if not paid by May 31st. One year they reported to have paid $6 million in just interest. A few years ago they started doing better and only paid $250,000 in interest. Their goal this year is to pay $50,000 or less in interest, so you all may have a good chance in getting your refund. I will let you know if I get mine. I am looking forward to it! 🙂

Teresa

Last year I received mine at the end of August.

Hello All,

Another rumor I should not have believed has been proved untrue. We literally didn't know what to do about taxes when we moved here two years ago. So we didn't do anything. Not a good idea. We 'heard' that refunds were never received on island and to try to file in the states if you could. This tax season we asked around and found a great tax preparer on island. He prepared our taxes for both 2004 and 2005. I have received a refund for both years. My checks came in the mail a week apart in May. I filed around April 8th. I believe HipCrip once said that she never had a problem getting a refund and of course I now believe. 🙂 If you come mid year to the islands, you can file the whole thing on island. You don't have to file Federal (stateside) nor any state taxes (since the V.I. is not a state). Just file a form (I think is the regular federal stateside form) to the IRB. They work out the stateside versus island for that year. Anyway, I didn't have to think about it at all and our tax preparer even couriered it over to the IRB, so I really didn't have to do anything. If you owe taxes, I imagine it is like stateside, they want the money as soon as possible. 🙂 My new motto. Don't believe everything you hear, even if you hear it from many different people. I also hear that getting a driver's license is a 20 minute in and out process as long as your stateside license has not expired. Another myth proven untrue. I could go on, but I am tired. Later folks.

Teresa