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Voluntary Disclosure Reporting Program (DRP) For Repair Stations Introduction Guide July 2010 DRP Introduction Guide 1 Rev. July 2010 Contents FAA Inspector/Regulated Entity Activities Stage 1: Stage

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What is vdrp?

VDRP stands for Voluntary Disclosure Reporting Program. It is a program that allows taxpayers to voluntarily disclose previously unreported income or correct inaccurate information on their tax returns.

Who is required to file vdrp?

The VDRP is available to individual taxpayers, corporations, partnerships, and other entities who have unreported income or inaccurate information on their tax returns.

How to fill out vdrp?

To fill out VDRP, taxpayers need to complete and submit Form VDRP along with the required documentation and payment of any taxes, interest, and penalties owed.

What is the purpose of vdrp?

The purpose of VDRP is to encourage taxpayers to voluntarily come forward and correct any previous tax reporting errors or omissions. It allows taxpayers to avoid prosecution and potentially reduce penalties.

What information must be reported on vdrp?

Taxpayers must report any previously unreported income, correct inaccurate information, and provide supporting documentation for the adjustments made on their tax returns.