taxes

It's the same. You fill out the same forms but you pay your taxes to the Territory's IRS, not to the mainland IRS.

(If I'm wrong about this, someone will surely correct me)

It can get a bit more complex if some of your income is earned on the mainland and some is earned on the island. If you also have income from elsewhere, you might want to date an accountant!

Some people have to file tax returns here AND on the mainland and sometimes also in other countries if they earn income overseas. In most cases, you at least get to deduct the taxes and taxable income from other places on the tax returns you file in each place so that you only end up paying tax on the different amounts in one place per income source.

If you receive EDC benefits (and if you don't know what that is, you don't get them so don't worry about it), you had better make sure you pay your taxes correctly or you can wind up paying double taxes on all your income plus IRS penalties. They don't mess around and they don't allow innocent mistakes to go unpunished.

When we moved here in August, we had worked half the year in the states and half on STT. We had our taxes done on one federal form. The IRB (IRS on island) took care of figuring out our refund from the states and our refund from STT. The IRB did send us a letter stating what was from STT and what should be sent to us from the IRS. So in our case we didn't have to file separate forms. Despite rumours that refunds are never received from the IRB, we got our check before May 31st. Yea!

Teresa