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Old 03-03-2011, 03:55 PM
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Quote:
Originally Posted by Advogado View Post
Your concerns about the IRS investigation are legitimate, but, at this stage, we apparently will have to await its outcome to determine if we have a problem and, if so, its magnitude. However, your $15 million figure is a gross understatement of the potential financial magnitude of the issue. While it sounds like a lot of money, if that were all we were talking about, I wouldn't be particularly concerned. Where did your $15-million figure come from? Here is a brief summary of the situation and dollar amounts involved: http://www.bondbuyer.com/issues/118_142/-305665-1.html


By alerting the IRS to the potential impact of an adverse decision on Villagers, I think that the POA has done all that can be done on behalf of the residents-- for the time being.

Basic answers to your questions about the possible adverse effects of the IRS investigation on residents can be found in the current POA Bulletin. Refer to page 9 in the "Editor's Response" section and to page 12, item #4.

Also consider that IF action against the Developer again becomes necessary to protect our rights because of the IRS investigation or for any other reason, as happened at the time of the class-action lawsuit, the POA is the ONLY organization that we have to represent us and to protect our interests. (The VHA, as you probably realize, is essentially a front for the Developer.) For that reason, the POA deserves both our time and our financial support in order to try to ensure that it is here and healthy if we need it.

In addition, since we have no local newspaper, the Talk of the Villages forum will be invaluable, if something bad happens vis-a-vis the Developer, as a means of communicating among ourselves and developing a concerted plan of action. For that reason, I hope that the TOV also continues to thrive.
My dear. Haven't you EVER heard that the only things that you absolutely can count on are death and taxes?

Not even the POA is gonna change any outcomes there.

I still say...the sky isn't falling.

but if you want to worry about it...go ahead.