Talk of The Villages Florida - View Single Post - I.R.S. Rules Against The Villages
Thread: I.R.S. Rules Against The Villages
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Old 06-08-2013, 12:57 PM
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Quote:
Originally Posted by rayschic View Post
Too early to tell. Here's a link to another article about the issue.

BREAKING: IRS Rules Against The Villages

Thank you for that link.........I just printed out the IRS letter to the attorney.

The Villages Florida Book also has:

Breaking: IRS Rules Against the Villages............

After a 5 year investigation into how the CDD borrowed money, in a memorandum dated May 30, the IRS says:

"WE believe that an entity that is organized and operated in a manner intended to perpetuate private control, and to avoid indefinitely responsibility to a public electorate, cannot be a political subdivision of a State."

Anyway, it's a lot to read...........plus many comments.......