[Taj44]

Originally Posted by Advogado

I agree, and I too am not losing any sleep over the matter-- primarily because there is not a whole lot that I can think of to do at this point. The question that we residents would face, IF the IRS sustains its position, is How do we enforce the various remedies that you refer to?

Do you have any thoughts as to what we could do, at this point, to, as you put it, "plan to protect our interests"--other than to try to inform people? (As indicated by some of the responses to my posts, informing people ain't that easy to do.)

In thinking about the matter, I continue to conclude that the POA is probably out best bet. The POA is following the matter closely and, as I recall, has written the IRS asking that the IRS be sensitive to the impact of an adverse decision on the residents. The problem that we face as residents is that the POA is not a traditional property-owner's association in that membership is not mandatory, and it has no dues-assessing power.

In other words, the POA, as an organization, may not be very effective in representing the interests of residents in the legal tumult that could ensue if the IRS sustains its position. Remember that the POA had no standing to bring the class-action against the Developer and it had to be brought by individual members of the POA. (The VHA, of course, would be of no help.)

I agree - the POA is probably a good start. The VHA is generally useless.