Tax News




You need to file two tax returns. One for the federal government on form 1040 and the other one for the Virgin Islands. You will not be able to file your U.S. Virgin Islands return electronically. You will be able to file your Federal return electronically.

Enter the W2 in your software as you usually would do. 

Taxes paid to the U.S. Virgin Islands are a refundable credit on the Federal or U.S. Virgin Islands return.



La Forma 5498 IRA Contribution se envía generalmente por su Fiduciario IRA para reportar su actividad IRA al IRS. También obtendrá una copia de este formulario.

Información reportada en el Formulario 5498 indica lo siguiente:


If you were the President or the Secretary of Treasury how would you help the Latino entrepreneur grow their business? 

Currently the average size Latino business is lower than the non-Latino business.  It is a $1.3 trillion opportunity gap.  Why aren’t Latino businesses growing at the same pace?

There will be an estimated 4.23 million Latino owned firms by 2017.  Close to half of Latino business owners are millennials (ages 18-35) and half hold at least a 4 year degree.  Data shows that the entrepreneurial spirit is alive and well.  About 70 percent of Latino firms are owned by US born Latinos.

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By Kpay @ Square – Posted February 7th, 2017

I recently sat down with Tony Martinez and Carlos Lopez from the Latino Tax Professionals Association. They gave me a lot of great tips for business owners about preparing taxes. Keep reading for more on common mistakes, tips for tax season, and access to a small business packet to get you started.



WASHINGTON — As millions of people begin filing their tax returns, the Internal Revenue Service reminded taxpayers about some basic tips to keep in mind about their refunds.

During the early parts of the tax season, early filers are anxious to get details about their tax refunds. And in some social media, this can lead to misunderstandings and speculation about refunds. The IRS offers some tips to keep in mind.



WASHINGTON — A medida que millones de personas comienzan a presentar sus declaraciones de impuestos, el Servicio de Impuestos Internos (IRS) les recuerda a los contribuyentes algunos consejos básicos acerca de sus reembolsos.

Temprano en la temporada de impuestos, algunos contribuyentes quienes ya presentaron su declaración se sienten ansiosos pues desean obtener detalles acerca de su reembolso. Frecuentemente, y en algunos medios sociales esto puedo resultar en malentendidos y especulaciones. El IRS ofrece algunos consejos para tener en mente.