The V.I. Bureau of Internal Revenue has announced that the Gross Receipt Amnesty and Income Tax Penalty Waiver programs, enacted by the 33 rd Legislature, started on January 11 and will end on Wednesday, June 30, 2021.
Gross receipts tax obligations for all months up to November 2020 and all annual gross receipts tax returns up to 2019 are eligible for the amnesty program, according to B.I.R. Taxpayers who pay all gross receipts taxes owed will have the interest and penalties abated under this program. In addition, income tax obligations up to tax year 2019 are eligible for the waiver of penalties for those taxpayers who pay all outstanding income taxes and interest.
Senator Donna Frett-Gregory, one of the measure's chief sponsors, said in November before the bill became law, “It is our responsibility to take care of our businesses here in the Virgin Islands, and the people who have homes and lost their jobs — there is just so much to contemplate around this."
Payments under the amnesty program should be made by cash, credit card (Visa or Mastercard), checks and money orders, B.I.R. said. Bureau Director Joe Lee reminded taxpayers who have made payments with dishonored checks in the past, that they will be required to pay with bank checks in order to take advantage of the programs. Further, delinquent taxpayers will be required to file any and all outstanding returns in order to take advantage of the amnesty, according to the release.
For more information, call B.I.R.'s Delinquent Accounts and Returns Branch on St. Croix at 773-1040, extension 4254, or on St. Thomas, at 715-1040, extension 2232.
Advertisements
