: U.S. citizens who are not residents of these territories must generally report their worldwide income to the federal IRS , even if it was earned on an island. Recent Tax Relief and Incentives
: Following severe weather, the IRS frequently grants tax-filing and tax-payment extensions for island residents. For example, victims of Tropical Storm Ernesto in the USVI were granted extensions through February 2025. ISLANDS (IRS)
: Some territories offer significant local tax incentives to attract investment, which can include exemptions on corporate stock or capital gains from specific securities. For example, victims of Tropical Storm Ernesto in
Bona fide residents of the U.S. Virgin Islands – Tax credits - IRS Virgin Islands – Tax credits - IRS :
: During federal relief efforts (like stimulus checks), the IRS coordinates with territorial agencies to share data and expedite payments to island residents who do not reside on the mainland.