What is Form 8689?
Form 8689 is a tax document designed for U.S. citizens or resident aliens earning income from the U.S. Virgin Islands (USVI) without being bona fide residents. This form assists in calculating the appropriate allocation of U.S. tax owed to the USVI based on your income or business activities there. Filing Form 8689 ensures that you meet your tax obligations accurately, allowing you to determine the correct amounts owed to both the U.S. and the USVI.
What is Form 8689 used for?
Form 8689 is important for taxpayers connected to the U.S. Virgin Islands. Here's what it's used for:
- Determining U.S. Tax Allocable to USVI: It calculates the U.S. tax amount for the U.S. Virgin Islands.
- Reporting Tax Liability: It reports tax liability to the U.S. Virgin Islands based on U.S. liability.
- Tax Credit: It allows claiming a tax credit for taxes paid to the U.S. Virgin Islands.
- Filing Requirements: It requires identical tax returns with both the U.S. and the U.S. Virgin Islands.
How to fill out Form 8689?
- 1
Fill out your personal information on Form 8689.
- 2
Complete the allocation sections based on your income.
- 3
Attach Form 8689 to your U.S. tax return (Form 1040 or 1040SR).
- 4
If no payment is included, send your return to IRS Service Center Austin.
- 5
If payment is included, send your return to IRS Service Center Charlotte.
- 6
File a signed copy of your U.S. return with the Virgin Islands Bureau of Internal Revenue.
Who is required to fill out Form 8689?
U.S. citizens and resident aliens who have earned income from the U.S. Virgin Islands are responsible for completing Form 8689.
After filling out this form, taxpayers must file it along with their U.S. tax return and a signed copy with the Virgin Islands Bureau of Internal Revenue to ensure proper tax allocation.
When is Form 8689 not required?
You don't need to file Form 8689 if you lived in the U.S. Virgin Islands as a bona fide resident for the entire tax year. Additionally, if your earnings from services in the USVI were less than $3,000 and you met certain conditions, you can skip this form. Always check your specific situation to confirm your filing requirements.
When is Form 8689 due?
The deadline for Form 8689 is April 15 each year. If you need more time, you can submit an extension request by October 15. Make sure all information is accurate and complete to avoid any delays and ensure proper processing of your form.
How to get a blank Form 8689?
To obtain a blank Form 8689, Allocation of Individual Income Tax to the U.S. Virgin Islands, visit our website. The Internal Revenue Service (IRS) issues this form, and we have it pre-loaded in our editor for you to fill out. Remember, our platform aids in filling and downloading forms, but not filing them.
Do you need to sign Form 8689?
Yes, you need to sign Form 8689. The IRS requires a signed copy of your tax return, including this form, to be filed with the Virgin Islands Bureau of Internal Revenue. To fill out and download this form, you can use PDF Guru for your needs. Just remember, while PDF Guru helps you create electronic signatures, it doesn’t support submission or sharing of the form. Always check for the latest updates regarding signature requirements.
Where to file Form 8689?
To submit Form 8689, send it to the IRS in Austin, TX, if there’s no payment. If a payment is included, mail it to Charlotte, NC.
Don't forget to file a signed copy with the Virgin Islands Bureau of Internal Revenue in St. Thomas, VI. Remember, this form cannot be submitted online; it must be mailed.
