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Thread: IRS Updates?
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Old 07-09-2010, 11:55 AM
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Quote:
Originally Posted by bkcunningham1 View Post
Very basically, the Village Community Development Districts has asked the IRS for technical advice on whether the VCDD is a political subdivision for purposes of the IRS tax code on revenue.

Based on the IRS' own "laws" and codes, the VCDD is allowed to do this. That is where the issue stands now. The VCDD is waiting for a reply.
Could I trouble you to reword that? Are you saying maybe the VCDD is not of the status required for the IRS review? What about a time table?

It is my understanding you can fight the IRS right to the top and if you win that does not set precedence for the next year or another person or that you can do the same thing south of 466. I may be wrong.