Joel A. Lee, director of the Virgin Islands Bureau of Internal Revenue (Bureau), reminds all bona fide residents that they are required to file their individual income tax returns in the Virgin Islands with the Bureau. The due date for tax returns is Thursday, April 15, 2021.
Taxpayers are reminded that they can file Form 1040 or Form 1040SR. “In addition, bona fide residents of the Virgin Islands must not file their individual income tax returns, electronically or by mail, with the Internal Revenue Service (IRS),” said Director Lee.
This is a violation of the law. Taxpayers who file with the IRS and receive erroneous refunds from the IRS will have to repay the erroneous refund issued by the IRS and will be subject to penalties and interest.
Self-employed taxpayers are required to file two tax returns: Form 1040 – individual income tax return and Form 1040SS – self-employment tax return.
The Form 1040 is filed with the V.I. Bureau of Internal Revenue. The self-employment tax return must be mailed to the IRS. Please do not include the calculation of the self-employment tax or the payment of self-employment taxes on Form 1040.
There is no electronic filing in the Virgin Islands at this time. Taxpayers must submit or mail the returns to the Bureau for processing.
For more information about filing requirements for bona fide residents, call the Office of Chief Counsel at 715-1040, ext. 2249.