Jan. 31, 2002 – To avoid a fine of $50 per employee per day, employers need to send out W-2VI forms on withholding from 2001 wages to their employees by Thursday, the Internal Revenue Bureau director, Louis Willis, said Wednesday.
In a press release issued a day before the deadline, Willis said that although the fine is a civil penalty, criminal penalties may also apply for those failing to comply.
He further noted that Virgin Islands employers must use the W-2VI form, not the standard Internal Revenue Service W-2 form used on the mainland.
W-2VI and W-3SS forms are available at the IRB offices on St. Thomas and St. Croix, the release stated. The W-3SS form is the one that employers send to the Social Security Administration reflecting how much money has been paid into the system on behalf of an employee.
Willis also noted that employers may transmit the wage information electronically. For information about this procedure, call Granville Smith at 774-5865, ext. 2251. Questions about forms W-2VI and W-3SS should be directed to the IRB chief counsel's office on St.Thomas at 714-9312 or 774-5865, ext. 2249.
