Tax Time
I have earned income from the mainland and USVI income. I am a Vi resident. How do I file federal taxes. Do I declare all income including VI income on my federal form? Do I include mainland income on my VI taxes? I've been doing my own taxes for years but am just a little confused over this issue and what the right thing is to do. Anyone know the answers?
Do you mean you lived part of the year in the mainland and earned income there? If so you have to file with that state (if applicable) and the us federal govt and usvibir (or whatever the initials are). If you lived here the whole year and had some income from the us you would file with the internal revenue service of the vi.
I would suggest you contact a tax person. This is not as easy a question as it seems.
I agree with Linda. Unless you're return is REALLY complicated, it's cheaper in the long run to make sure it's done correctly rather than get audited & have to pay penalties, etc.
Please get information from a qualified tax person. Quickly, my horror story! I moved here in Jan. 96, so when I got ready to file my 95 taxes, (all money made in US) I called IRS and was told to file in Philadelphia. I did so, but put my Virgin Islands address as my return address. The VI was entitled to part of the money since I was now a resident of the VI. The IRS sent a form to IRB (VI) to claim their share. Apparently they did not claim their share. They simply marked down somewhere that I owed them money. No one ever contacted me. I got my legitimate refund from IRS and that was the end of it. NOT ! Years later, during a credit check, it was discovered I had a tax lien against me filed by the IRB for my 1995 taxes. They readily admitted it was their error, gave me a tax clearance letter and promised to correct the matter. This is a really long story.........it took three years to clear up. And to tell you the truth, I would not be at all surprised if I had reason to run another credit check, to find it still there. Do yourself a favor. Get qualified, professional advise.
I had a mess with Philadelphia, too. It was worse dealing with Philadelphia than the VI. I had managed to block out that nightmare until Juanita's post reminded me. 🙂
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