Latest on IRS tax exempt bond issue
 

For those who are interested in reading, the latest publicly available communication between the VCCDD and the IRS is at http://districtgov.org/images/IRSupd...%205-21-14.pdf You may want to read it for yourself and form your own opinion before others explain it to you providing their slant.

As we say in the federal bureaucracy, BLUF - Bottom Line Up Front, the Office of Tax Exempt Bonds has denied the VCCDD request for relief. In response the VCCDD request is being forwarded to the appropriate IRS Associate Chief Counsel for consideration. It is unlikely, however, that the Associate Chief Counsel will have a different opinion since this issue would have most probably already been vetted at the Office of Chief Counsel.

My opinion is this is a sidebar, and minor issue, to the larger concern of the VCCDD issuance of bonds for the purchase of facilities. That's another discussion.

For those who want an unbiased, and unabashed, discussion I'm in Hemingway now. Stop by and we'll have a civil discourse.

Soooo.... What does that mean in laymen terms? Will it cistern TV'ers more $... HOA fees?

That is AFFECT (not Cistern) TV'gers?

There is no legal HOA in The Villages. We have amenity fees. Increases to amenity fees are contractually tied to inflation. We will all be dead before there is any resolution to this matter.

reads like another new IRS Agent putting her spin on the issue. Previous agents got reassigned................................

Oh no! We must prepare ourselves for another round of "The sky is falling" posts. Indydealmaker is right. We will all be dead before this is resolved so let's all worry about dog poop.

Apparently there are some posters who are not aware that this eight year long IRS investigation is going on, or that the district has paid close to one million dollars to the developer's attorney to protect the developer's bottom line.

Once again............don't worry about something that.................you cannot change.

Yes, it is expensive to defend against the IRS and the endless stream of partisan appointees, not elected officials, who investigate and write these opinions on what is said in the 74,000 pages of federal tax code.

Yes, it's 74,000 pages. And these are opinions being issued.

Quiz: How many pages are in the U.S. tax code? - CNNMoney

You can thank your Congress critter for the 74,000 pages. All the Tax Code does is restate all of the laws passed by that long winded body.

And what does this add to the resolution of this situation?

"Critter" is right.

Not really 74,000 pages. The "Tax Code" would be the actual law. Somewhere less than 3,000 pages. Still pretty hefty.

The bottom line is, yes, it is expensive to defend yourself when you've broken the law, as apparently The Villages has done with regard to tax law in this case. W'll have to wait and see how long the appeals can be stretched out. One would think that at some point, the appeals will end and the piper will have to be paid.

Apparently? Your opinion is noted.