IRS Issues Revised Tax Guide For US Possessions

by Mike Godfrey, Tax-News.com, Washington

Thursday, February 11, 2016

The Internal Revenue Service has released a revised version of its Tax Guide for Individuals Receiving Income from the United States Possessions – American Samoa, Puerto Rico, the US Virgin Islands, Guam, and the Northern Mariana Islands – in 2015. Read Full Story

IRS Adds To US Territory Residency Rules

by Mike Godfrey, Tax-News.com, Washington

Friday, August 28, 2015

A notice of proposed rulemaking issued by the US Internal Revenue Service on August 26 has proposed amendments to the regulations for determining whether an individual is a bona fide resident of a US territory. Read Full Story

IRS Reminds Firms Of Transaction Disclosure Rules

by Mike Godfrey, Tax-News.com, Washington

Tuesday, May 26, 2015

The US Internal Revenue Service has reminded businesses in US territories, including individuals who are sole proprietors, that they must report cash transactions of more than USD10,000 received in a trade or business. Read Full Story

IRS Issues Revised Tax Guide For Aliens

by Mike Godfrey, Tax-News.com, Washington

Tuesday, February 3, 2015

The Internal Revenue Service has released revised versions of its Tax Guide for Aliens and its Tax Guide for Individuals Receiving Income from the United States Possessions – American Samoa, Puerto Rico, the US Virgin Islands, Guam, and the Northern Mariana Islands. Read Full Story

US Territories Seek Clarity On Net Investment Income Tax

by Mike Godrey, Tax-News.com, Washington

Monday, August 18, 2014

The American Institute of Certified Public Accountants has written to the United States Congress to request clarification on the applicability of the net investment income tax to residents of the US Virgin Islands, Guam, and the Commonwealth of the Northern Mariana Islands. Read Full Story

IRS Guidance On US Possessions Revised

by Mike Godfrey, Tax-News.com, Washington

Tuesday, March 18, 2014

The Internal Revenue Service has released a revision of its publication that provides a tax guide for individuals receiving income from the United States possessions – American Samoa, Puerto Rico, the US Virgin Islands, Guam and the Northern Mariana Islands. Read Full Story

US Senate Mulls Tax Reform For Tribes And Territories

by Mike Godfrey, Tax-News.com, Washington

Friday, May 18, 2012

At a recent Senate hearing on the effect of possible tax reforms on Native Americans and the United States territories - Puerto Rico, the US Virgin Islands, Guam, American Samoa and the Northern Mariana Islands - Finance Committee Chairman Max Baucus pointed to the anomalies and complexities existing in their current tax treatment. Read Full Story

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