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I just received a package from IRS with Form 1040-V payment vouchers addressed to IRS in Cincinnati. IRS wants us to send the form with payments for income not subject to withholding (self-employment, interest, dividends, rents, alimony, etc.).
Does anyone know what to do for Estimated Taxes when filing income tax returns in USVI?
Posted : February 16, 2010 8:54 am
The 1040-V is used quarterly to pay what the aproximate tax would be based on your net income for that quarter .You should have received four vouchers to accompany each payment . If you had no income for that quarter you send the form with no check etc....Im not an accountant but I play one on TV and I stayed at Holiday Inn express last nite. 😎
Posted : February 16, 2010 11:54 am
Topic starter
Send it to VI tax guys?
Posted : February 16, 2010 12:37 pm
Edward ,In all fairness to you ,there are a few variables ,such as where your income is generated and reported to just to name a few .All joking aside make a call to local CPA for some GOOD advice. A couple of simple questions to them may save you alot of hassle later and $$$$$.I have been through a few IRS audits and it is a mine field but very competent advice is worth 1000 times the cost.
Posted : February 16, 2010 2:31 pm
See this recent, related discussion under the subject, "Tax Help!!"
https://vimovingcenter.com/talk/read.php?4,130144,130260
Posted : February 17, 2010 4:55 pm