Quote:
Originally Posted by The Shadow
Has the IRS asked the Developer for any kind of a settlement? NO!
Has the IRS asked any resident for any kind of a settlement? NO!
Do you think one day the IRS is going to show up at the resident’s door and say this is an IRS give me $10,000. I don’t think so.
For three years the IRS has had one target, Team Tutt AKA VCDD. What does the IRS want? Money what they always want and a stop to tax free bonds.
And when the IRS offender does not have the money to pay the IRS what happens then? The IRS says we will then take your property and auction it off to settle your debt. That property is the property that the VCDD allegedly wrongfully sold tax free bonds to purchase from the developer at an allegedly high price.
How do you stop tax free bonds? Redeem them, buy them back, with what money?
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Team Tutt/aka the VCCDD is us. We personally had no part or even knowledhe of the business transactions that occurred between the Seller and the Buyer. However, the buyer is our government and they represent us and used all fees, taxes amenities that flow to them for this purchase. If those funds are not available to the VCCDD and the IRS rules against the VCCDD and not the Developer what happens??????
Frankly based on the IRS filings I believe the IRS is more interested in the Developer for a number of reasons.
Peerhaps the nature of the Development district is as the Developer claims? I hope so and believe the Developer has a strong and correct argument given Florida Law. There are a few issues that rub the IRS the wrong way and that is why I believe they are pursuing this issue.
I am interested in thus issue but I am not losing any sleep over it