Quote:
Originally Posted by janmcn
According to EdV's post the IRS rarely goes after bondholders for back taxes as it would too laborious a task.
According to Rictchie's article "...the Village Center district won't owe the IRS a nickel -- the tax burden falls wholly on the holders and the buyers of the bonds".
My question is -- the bondholders don't pay, the VC district doesn't pay, the developer doesn't pay...so does the $355 million dollars in loans just magically disappear? What am I missing here?
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Good questions. There are those who would like us to believe that there will be no impact to Villages residents should the IRS prevail. If it sounds too good to be true, it probably is.