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February 5, 2008
Bureau of Internal Revenue reminds U.S. Virgin Islands residents to file income tax returns in the U.S. Virgin Islands Gizette L. Thomas, Esq., Director of the Virgin Islands Bureau of Internal Revenue, reminds all Virgin Islands residents that they are required to file their individual income tax returns with the Virgin Islands Bureau of Internal Revenue (VIBIR). Taxpayers are also reminded that they cannot file their tax returns electronically. Virgin Islands residents must not file their individual income tax returns, electronically or otherwise, with the Internal Revenue Service (IRS). The IRS continues to send individual income tax returns back to the territory to be processed by the Bureau. The income tax return is only considered filed on the date that it is received by the Bureau, not the date received by the IRS. Taxpayers who receive erroneous refunds from the Internal Revenue Service will have to repay any incorrect refund issued by the IRS, and will be subject to applicable penalties and interest. Puerto Rico taxpayers with Virgin Islands income are required to file Form 1040 and Form 8689. Form 8689, Allocation of Virgin Islands Source Income, allows a taxpayer to report and pay tax on his Virgin Islands income to the Bureau. For more information about filing requirements for V.I. residents, please call the Disclosure Office at (340) 715-1040, ext. 2240 or the Office of Chief Counsel at (340) 714-9312 on St. Thomas. |
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