Talk of The Villages Florida - View Single Post - Is the Dispute with the IRS Finally Over?

Villager Joyce · 06-23-2015, 04:45 PM

Quote:

Originally Posted by Vinny

I got an alert a little after 9:18am. The key part for me was that the IRS said it will not seek retroactive monies and that means we do not have to worry about being assessed to pay off what was owed to the IRS. They also mentioned that the new definition of a Political subdivision or whatever it is called, encompasses The Villages so it looks good for us. The article also states that this ruling will alleviate the concern of existing and new home buyers.

I never thought that the IRS would pursue this to the end. It would not look good to make a decision that impacts a heck of a lot of retired people. We could always do like the Scientologist did when the IRS tried to pull their tax free status. They had all 30,0000 members file a lawsuit against the IRS which forced the IRS to relent rather than spend the time and money to fight all 30,000 cases. Imagine what we could do if we adopted that strategy.

I'm retired now and have a little more time to do things than I had in my previous working life. This sounds fun.