Quote:
Originally Posted by Advogado
There are several misstatements in this thread about both the first class-action lawsuit and the IRS investigation. For example, the current IRS investigation actually began in January 2008, under the Bush administration, and allegations that it was or is politically motivated have no basis.
To get the facts on both the IRS investigation and the first class action, go to poa4us.org.
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I got my information from a Bloomberg article..pretty detailed... written in 2012.....
"The districts were used “to perpetuate this ‘government by developer’ phase indefinitely,” wrote IRS examiner, Dominick Servadio Jr., in a 2009 letter to the Village’s CCD chairman. The May 2012, IRS brief said the agency believed that the 167-acre Village Center CDD and the 432-acre Sumter Landing CDD both failed to meet state requirements to be a district.
n 2009, the IRS requested a settlement requiring the Village Center and Sumter Landing districts to pay $16.5 million tax on the then-outstanding bonds, refinance $355 million of the bonds through taxable bonds, and to refrain from issuing municipal bonds in the future. The settlement was probably declined given the continuing investigation. "
Billionaire Morse Behind Curtain at Villages - Bloomberg
I saw not mention of January 2008 HOWEVER if Bloomberg erred, I was in error and stand corrected.
Not saying I am right or even Bloomberg, but based on a few posts, I just have to add.....I do trust Bloomberg much more than BUZZFEED on just about any subject
