[marlinguy]

What now?

[Bizdoc]

No. It may be hard to believe, but they have other cases as well. And since the VCDD filed a response, it will take some time to evaluate it.

[mixsonci]

Curious, what's this about?

[rubicon]

Didn't you guys hear? The IRS delay is because their computers crashed and they can't recreate any of their e-mails.......

[tommy steam]

IRS has a long memory and they never sleep.....

[graciegirl]

Originally Posted by tommy steam

IRS has a long memory and they never sleep.....

Yeah. I don't want to **** them off. They are gonna come after you if they don't like your views on things.
As the little boy in the commercial says...DIS-GUSTING.

[janmcn]

The IRS inquiry began in January 2008. Readers can do the math.

[2BNTV]

Originally Posted by janmcn

The IRS inquiry began in January 2008. Readers can do the math.

It will be many years before this issue comes to a resolution.

Gary Morse has the money and lawyers to fight this issue, tooth and nail.

I will revisit this issue in 25 years.

[Bogie Shooter]

Originally Posted by mixsonci

Curious, what's this about?

Village Community Development Districts

[janmcn]

Originally Posted by 2BNTV

It will be many years before this issue comes to a resolution.

Gary Morse has the money and lawyers to fight this issue, tooth and nail.

I will revisit this issue in 25 years.

According to the CDD's website, the developer will not turn over the amenities south of CR466 until the IRS inquiry is over. It is doubtful he will wait 25 years to collect his money, which could amount to millions of dollars.

The district has already spent close to one million dollars on Attorney Israel, according to Janet Tutt. This expense is supposed to be reported to the districts monthly.

[Erijo]

Could someone explain this in lay mans terms? I don't speak "lawyereese". Jan mentioned amenity fees from south of 466a, I live there and don't know what this IRS dispute is about. Thanks so much.

[sunnyatlast]

The bond rating agencies are where the IRS and SEC ought to be investigating. Bond sales are supposed to be federally regulated, are they not?

Here's an example of their "A" rating assigned to CDD District 5 built in 2002:

Fitch Rates Village CDD No. 5 (FL) Special Assessment Bonds 'A'; Outlook Stable | Business Wire

"CDD No. 5 is an independent municipal entity with a representative board elected by residents. Fitch believes the district's independent governance structure insulates it from a recent tentative IRS finding that the commercial Village Center Community Development District (VCCDD) is not a 'political subdivision' of the state."

[Bogie Shooter]

Originally Posted by Erijo

Could someone explain this in lay mans terms? I don't speak "lawyereese". Jan mentioned amenity fees from south of 466a, I live there and don't know what this IRS dispute is about. Thanks so much.

See post #9.
Or do a search on IRS.

[dewilson58]

Originally Posted by Erijo

Could someone explain this in lay mans terms? I don't speak "lawyereese". Jan mentioned amenity fees from south of 466a, I live there and don't know what this IRS dispute is about. Thanks so much.

Google search, IRS rules against The Villages

[iaudit]

Originally Posted by 2BNTV

It will be many years before this issue comes to a resolution.

Gary Morse has the money and lawyers to fight this issue, tooth and nail.

I will revisit this issue in 25 years.

Slight problem here. Our amenity fees are being used to fight this, not Gary Morse.