Talk of The Villages Florida - View Single Post - Is the Dispute with the IRS Finally Over?
Thread: Is the Dispute with the IRS Finally Over?
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Old 06-25-2015, 01:55 PM
janmcn janmcn is offline
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Originally Posted by Mikeod View Post
The dispute is not with Morse, but with the central districts who issued the bonds to purchase the amenities. That is why the costs are being paid out of the district's income stream, which is our amenity fees.

I think this latest development is significant in that a major part of the dispute was the IRS position that the VCCDD and SLCDD were not political subdivisions and therefore not eligible to issue tax free bonds. This stance applied a standard that was not in effect at the time the bonds were issued and now the IRS agrees not to apply the new standard retroactively.

How will this latest ruling from the IRS effect the way the developer transfers all the facilities south of CR466 to the SLCDD? Will they be able to do it the same way they transferred all the assets north of CR466?