Quote:
Originally Posted by EdVinMass
Well once again we have some new TOTV members trying to understand the facts of this ‘IRS investigation’ and raising a lot of uncertainties. So I thought a little refresher course is in order, so here goes:
What is the likely resolution to all of this? It won’t be to penalize the bond buyers. That would be way, way, way too complicated. You’d be talking about thousands of bond holders and municipal bond mutual funds and reassessing past tax filings over many years. There’s a much simpler resolution. In fact, it’s the one already proposed by the initial IRS agent...........
So while I can’t predict exactly what will happen with this, I can say with certainty and facts what cannot happen and that it will have little if any impact on TV homeowners unless of course they allow some of the fear uncertainty and doubt (FUD) being tossed about, to get to them.
The financial impact of this rests solely with the developer and/or the companies he controls that own the majority of the property within the two CDDs that are being audited by the IRS. And let’s face it, he can afford it.
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Thank you so much for pulling together the facts and stating this so coherently.
I think your post warrants starting a whole new thread with it, to bring it to the forefront. There is too much conjecture and "the sky is falling" in this thread for newbies and wannabees to make any sense of it in deciding whether to buy here in TV.