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VANDENBERG VILLAGE COMMUNITY SERVICES DISTRICT 3757 Constellation Road Lompoc, California 93436 (805) 7333417 NOTICE INVITING BIDS OFFICE PAINTING N1 NOTICE IS HEREBY GIVEN that sealed bids will be
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VVSCD stands for Voluntary Virtual Currency Self-Disclosure. It is a program initiated by the IRS for taxpayers who have not properly reported virtual currency transactions and want to voluntarily disclose them.
Taxpayers who have engaged in virtual currency transactions and have not properly reported them are required to file VVSCD.
To fill out VVSCD, taxpayers need to provide information about their virtual currency transactions, including the type of currency, date of transaction, amount, and any income or capital gains realized.
The purpose of VVSCD is to allow taxpayers to voluntarily disclose unreported virtual currency transactions and potentially avoid criminal prosecution or reduce the penalties imposed by the IRS.
Taxpayers must report all virtual currency transactions that were previously unreported, including the type of currency, date of transaction, amount, and any income or capital gains realized.
The deadline to file VVSCD in 2023 has not been officially announced yet. Taxpayers should stay updated with the IRS website for any updates on deadlines.
The penalty for late filing of VVSCD can vary based on the circumstances of the case. It is typically a percentage of the unreported virtual currency transactions, but can also include additional fines or potential criminal charges.
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