Federal Law
Below are PDF links to view or download relevant federal Internal Revenue Code (IRC) laws and Treasury Regulations regarding the USVI EDC Program along with relevant Internal Revenue Service (IRS) forms and documents.
IRC and Treasury Regulations:
Residency:
IRC §937 - Residency Rules and Source Income Rules
- Summary
- Treas.Reg. §1.937-1 - Bona fide residency in a possession
Source Income:
IRC §861 - US Source Income defined
- Summary
- Treas.Reg. §1.861-4 - Compensation for labor or personal services
- Treas.Reg. §1.861-18 - Classification of transactions involving computer programs
IRC §862 - Non-US Source Income defined
- Summary
- Treas.Reg. §1.862-1 - Income specifically from sources without the United States
IRC §863 - Special Source Income Rules
IRC §864 - Other Definitions and Special Rules
- Summary
- Treas.Reg. §1.864-2 - Trade or business within the United States
- Treas.Reg. §1.864-4 - U.S. source income effectively connected with U.S. business
- Treas.Reg. §1.864-5 - Foreign source income effectively connected with U.S. business
- Treas.Reg. §1.864-6 - Income, gain, or loss attributable to an office or other fixed place of business in the United States
- Treas.Reg. §1.864-7 - Definition of office or other fixed place of business
IRC §865 - Source Income Rules for Personal Property Sales
IRC §937 - Residency Rules and Source Income Rules
- Summary
- Treas.Reg. §1.937-2 - Income from sources within a possession
- Treas.Reg. §1.937-3 - Income effectively connected with the conduct of a trade or business in a possession
Other:
IRC §932 - Tax Return Filing Rules
- Treas.Reg. §1.932-1 - Coordination of United States and Virgin Islands income taxes
IRC §934 - Congressional Authorization for USVI to Reduce Income Taxes
IRC §7701 - Definitions of various terms used throughout the Internal Revenue Code
IRS Documents and Forms:
IRS Publications:
IRS Publication 570 - Tax Guide for Individuals with Income from U.S. Possessions (2007)
IRS Notices:
IRS Notice 2006-76 - Guidance for Software Business Models in USVI
IRS Notice 2007-19 - INTERIM Statute of Limitations and Exchange of Information Concerning Certain Individuals Filing Income Tax Returns with the U.S. Virgin Islands
IRS Notice 2007-31 - UPDATE Statute of Limitations and Exchange of Information Concerning Certain Individuals Filing Income Tax Returns with the U.S. Virgin Islands
IRS Forms:
Form 8689 - Allocation of Individual Income Tax to the U.S. Virgin Islands
Form 8822 - Change of Address
Form 8898 - Statement for Individuals Who Begin or End Bona Fide Residence in a U.S. Possession
Form 8898 Instructions - Instructions for Form 8898
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