[Bill-n-Brillo]

From the VHA's current The Villages Voice:
_______________________________________________

IRS Update

Janet Y. Tutt

District Manager

Village Community Development Districts


During October, representatives of Village Center Community Development District (VCCDD) were advised the Internal Revenue Service’s (IRS) Tax Exempt Bond Enforcement Division that the IRS is inclined to take the position that a special district is not a political subdivision for purposes of Section 103(a) of the Internal Revenue Service 1986.

In response to the communication, representatives of VCCDD met and discussed the issue with representatives of the IRS’s Tax Exempt Bond Enforcement Division including the General Counsel’s office. As a result of the meeting, the VCCDD was requested to prepare further analysis of Florida Statute Chapter 190, applicable case law, and information pertaining to the hundreds of Special Districts that have issued tax exempt bonds in the State of Florida in addition to Special Districts throughout the country. The response has been prepared and submitted to the IRS. It can be found on the District web site at Village Community Development Districts .

Also on the web site is a letter from the National Association of Bond Lawyers (NABL) which provides additional clarity to the issue regarding the IRS review of the District’s tax exempt status.

________________________________________________

Here's the link to the article:
The Villages Voice

Bill

[Villageshooter]

Just keep in mind the village voice is another mouthpiece of the developer so keep in mind they have a certain biased agenda....on the other hand can't we just make glue out of this horse ,,,,it has been beaten to death!

[Bogie Shooter]

Originally Posted by Villageshooter

Just keep in mind the village voice is another mouthpiece of the developer so keep in mind they have a certain biased agenda....on the other hand can't we just make glue out of this horse ,,,,it has been beaten to death!

So, go to the VCCDD web site and read the documents, that would eliminate your concern for any bias!

[ijusluvit]

Originally Posted by Bill-n-Brillo

From the VHA's current The Villages Voice:
_______________________________________________

IRS Update

Janet Y. Tutt

District Manager

Village Community Development Districts


During October, representatives of Village Center Community Development District (VCCDD) were advised the Internal Revenue Service’s (IRS) Tax Exempt Bond Enforcement Division that the IRS is inclined to take the position that a special district is not a political subdivision for purposes of Section 103(a) of the Internal Revenue Service 1986.

In response to the communication, representatives of VCCDD met and discussed the issue with representatives of the IRS’s Tax Exempt Bond Enforcement Division including the General Counsel’s office. As a result of the meeting, the VCCDD was requested to prepare further analysis of Florida Statute Chapter 190, applicable case law, and information pertaining to the hundreds of Special Districts that have issued tax exempt bonds in the State of Florida in addition to Special Districts throughout the country. The response has been prepared and submitted to the IRS. It can be found on the District web site at Village Community Development Districts .

Also on the web site is a letter from the National Association of Bond Lawyers (NABL) which provides additional clarity to the issue regarding the IRS review of the District’s tax exempt status.

________________________________________________

Here's the link to the article:
The Villages Voice

Bill

(couldn't resist)

[Bill-n-Brillo]

Originally Posted by ijusluvit

(couldn't resist)

Ha-ha-ha!!! Good one!

Bill

[graciegirl]

There are them and there are those and there are many who post on here.

Some are rampant cheerleaders like me. Redwitch told me the other day that my support of the developer sometimes made her sick. (oh dear)

Some are ALWAYS putting down the developer and being negative about every thing about the Morse family. Almost always NO one knows who they are and they NEVER show up at Crispers.You wonder WHY they are so against the developer. WHY??? And why they choose to be anonymous...


Bill has NEVER posted anything controversial or unfair in all of his posts.

If only I could be like him.

He is a poster who most people always trust. And they should.

Bill and Sandy have handed out popcorn many times at our Crispers get togethers. You will love them.

Read the link Bill has posted.

[Advogado]

Originally Posted by Villageshooter

Just keep in mind the village voice is another mouthpiece of the developer so keep in mind they have a certain biased agenda....on the other hand can't we just make glue out of this horse ,,,,it has been beaten to death!

Although I wish that it were not the case, this horse is very much alive-- as the Center Districts contine to lose at every step of the administrative process.

[eweissenbach]

Originally Posted by graciegirl

There are them and there are those and there are many who post on here.

Some are rampant cheerleaders like me. Redwitch told me the other day that my support of the developer sometimes made her sick. (oh dear)

Some are ALWAYS putting down the developer and being negative about every thing about the Morse family. Almost always NO one knows who they are and they NEVER show up at Crispers.You wonder WHY they are so against the developer. WHY??? And why they choose to be anonymous...


Bill has NEVER posted anything controversial or unfair in all of his posts.

If only I could be like him.

He is a poster who most people always trust. And they should.

Bill and Sandy have handed out popcorn many times at our Crispers get togethers. You will love them.

Read the link Bill has posted.

Love ya Gracie, but I can see Dee's point too. First, "the developer" is not a person or even a family, but an entity. The entity is made up of many, many people who make decisions that affect the development and those who live in it, not just Gary Morse, or the Morse family. They have teams of lawyers who advise them on things such as bond interest and CDDs, and though the final decision will rest with the board and the principals, they take many people's opinions into account, some of which may ultimately, be proven wrong. Like any big business entity, their mission is first to make money and maximize profit. That does not mean that they are insensitive to their customers and their concerns, but making money is the primary goal and pleasing customers generally furthers that goal. All big businesses need to be regulated to a certain extent, to assure they don't abuse their power and take advantage of people, the environment, or the system. The IRS is generally, looking out for the good of all taxpayers and attempting to keep anyone or any entity from cheating the system, and thus the rest of Americans. Unlike some people, I don't see the IRS as a boogeyman or the Gestapo, but simply the organization that collects taxes and enforces the tax code on behalf of all Americans.

I give the Morse organization all the credit in the world for producing a magnificent retirement community at a fair price. I don't resent their wealth, and believe that it has been accumulated mostly through honest work, great vision, and by providing value. Having said that I don't believe they are above reproach and when they do wrong they should be held accountable, here as well as by the law. Now, back to your regularly scheduled programming.

[janmcn]

Originally Posted by Bill-n-Brillo

From the VHA's current The Villages Voice:
_______________________________________________

IRS Update

Janet Y. Tutt

District Manager

Village Community Development Districts


During October, representatives of Village Center Community Development District (VCCDD) were advised the Internal Revenue Service’s (IRS) Tax Exempt Bond Enforcement Division that the IRS is inclined to take the position that a special district is not a political subdivision for purposes of Section 103(a) of the Internal Revenue Service 1986.

In response to the communication, representatives of VCCDD met and discussed the issue with representatives of the IRS’s Tax Exempt Bond Enforcement Division including the General Counsel’s office. As a result of the meeting, the VCCDD was requested to prepare further analysis of Florida Statute Chapter 190, applicable case law, and information pertaining to the hundreds of Special Districts that have issued tax exempt bonds in the State of Florida in addition to Special Districts throughout the country. The response has been prepared and submitted to the IRS. It can be found on the District web site at Village Community Development Districts .

Also on the web site is a letter from the National Association of Bond Lawyers (NABL) which provides additional clarity to the issue regarding the IRS review of the District’s tax exempt status.

________________________________________________

Here's the link to the article:
The Villages Voice

Bill

I have tried to read through the evidence provided many times before, but unless you have a lot of time on your hands or are particularly interested in case study, I find it not that informative. However, the key words from the above post, IMO, are "the IRS is inclined to take the position that a special district is not a political subdivision for purposes of Section 103(a) of the Internal Revenue Service of 1986".

Hopefully, this case gets settled soon so every property owner can find out what it's going to cost them.

[buggyone]

This has been ongoing for several years and will be ongoing for more years. The IRS has government tax attorneys. The Morse family has well-paid expert tax attorneys. If the IRS side prevails, there is the appeal process which will take place for several more years. If the Morse side prevails, case closed.

Government attorneys may be competent but do not stand much of a chance against well-paid expert attorneys. Two cases come to mind. Look at the "Dream Team" that O.J. Simpson had vs. government attorneys. Look at Casey Anthony's attorneys vs. government attorneys. Two acquittals.

Do not disparage the Morse family as they have provided us this wonderful place to live.

Remember the Wyoming elk hunting charges? So many of the posters on TOTV were saying that Mark Morse was going to prison for years and years. Well, well-paid attorneys proved their worth in that case, didn't they?

In the words of Perry Mason, I rest my case.

[rubicon]

Indeed the "Developer"is an entity designed to maximize profits and keep expenses under control.

Secondly, the reaction or lack thereof from village residents is a direct result of its composite. We have fulltime residents who because they live here year around are more aware of what is occuring but find that they continue to fight an uphill battle. We have seasonal residents who contribute year around but spend a sizeable portion of the year away from TV so that while here for the most part ignore the politics etc. and finally renters whose only concerns are the cost/benefits analysis of their money purchase. Leading to the fact that most people here simply blink and deflate when faced with issues such as the IRS audit.

This enitity called the "Developer"controls the county of Sumter. He has strategically placed his people on the boards of Water Management, Villages Hospital, School Board etc. By way of Sumter One he controls all 5 county commissioners and has great influence on local and state legislature and people in federal governemnt. He owns all the media in The Villages and because of wealth and power influences just about every county agency here.

I venture a guess that most people in TV never attempted to read the filings by the IRS as to the reasons for their inquiry. It is a real eye opener.

I have no personal bias against this entity called the "Developer". I have no quarrel with this entity and I do not believe this entity needs me to defend it I am not in awe of its creation because I believe it is flawed in many ways. I am not jealous of wealth because in many ways wealth means little to me. And as I grow older it has less and less meaning. I will admit to one big weakness and that is I cannot abide hypocrisy. I have absoultely no tolerance for it and have never been able to contain my disdain and that is my biggest weakness

Finally village residents would do wise to assert themselves more in this IRS audit process because the potential exists to have a financial affect on them.

[Advogado]

Originally Posted by buggyone

This has been ongoing for several years and will be ongoing for more years. The IRS has government tax attorneys. The Morse family has well-paid expert tax attorneys. If the IRS side prevails, there is the appeal process which will take place for several more years. If the Morse side prevails, case closed.

Government attorneys may be competent but do not stand much of a chance against well-paid expert attorneys. Two cases come to mind. Look at the "Dream Team" that O.J. Simpson had vs. government attorneys. Look at Casey Anthony's attorneys vs. government attorneys. Two acquittals.

Do not disparage the Morse family as they have provided us this wonderful place to live.

Remember the Wyoming elk hunting charges? So many of the posters on TOTV were saying that Mark Morse was going to prison for years and years. Well, well-paid attorneys proved their worth in that case, didn't they?

In the words of Perry Mason, I rest my case.

A correction, or maybe clarification of the above: Neither the Morses nor the Developer (the Morse's corporation) is a party to the IRS proceeding. The defense attorneys are representing the two Center Disticts (which own our amenities). The fees of those attorneys are being paid, in essence, by those Center Districts out of our amenity fees.

[Advogado]

The December issue of the POA Bulletin has an update: http://www.poa4us.org/bulletins_file...etin201212.pdf

[Bogie Shooter]

Originally Posted by Advogado

The December issue of the POA Bulletin has an update: http://www.poa4us.org/bulletins_file...etin201212.pdf

Nothing different than what Bill posted in #1.

[Lbmb24101]

From your lips( typing fingers), to God's ears....