Quote:
Originally Posted by EdV
Stop the presses, the end game on this matter may be sooner than we thought.
In the past, I and other posters on this subject have speculated that the Developer/VCCDD might challenge this all the way through the Tax Court(s), or even higher.
But it turns out that the Tax Court path is an option available only to a challenging tax payer. But in this case the VCCDD is not a taxpayer but a Tax-free Muni Bond issuer and it’s next and apparently last recourse at this point is an appeal to the IRS Office of Appeals with a final challenge to the ruling issued in the May 30 letter from the IRS.
A settlement agreement between the VCCDD and the IRS could well be reached in a year or less.
I’ll have more to say on that shortly but wanted to get this info posted.
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EdV thank you for the information and reminding us to stay focused on the issues that matter now. As long as we are following this action plans can be made as facts evolve