IRS Investigation - tax-free bonds

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  #1  
Old 02-22-2011, 09:37 AM
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Smile IRS Investigation - tax-free bonds

The IRS has been investigating TV regarding the issuance of tax-free bonds to pay for infrastructure. The situation was discussed extensively on the internet and in newspapers.

The financial impact from a negative settlement on residents would be the main issue that would deter us from moving to TV.

For some reason, there has been no discussion or news published about the situation for almost a year. Does anyone know if the issue has been settled or can advise on its current status?

Thank you.
  #2  
Old 02-22-2011, 09:43 AM
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Oh Boy!!!!!
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Old 02-22-2011, 09:54 AM
Larry Wilson Larry Wilson is offline
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Default IRS investigation

As far as I know there is no news. We are still all waiting for the outcome.
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Old 02-22-2011, 10:00 AM
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Quote:
Originally Posted by Joaniesmom View Post
The IRS has been investigating TV regarding the issuance of tax-free bonds to pay for infrastructure. The situation was discussed extensively on the internet and in newspapers.

The financial impact from a negative settlement on residents would be the main issue that would deter us from moving to TV.

For some reason, there has been no discussion or news published about the situation for almost a year. Does anyone know if the issue has been settled or can advise on its current status?

Thank you.
You know what we know. No worries here! 86 degrees yesterday on the car thermometer on the way back from lunch at TooJays in Lake Sumter Landing. I don't spend one second thinking about the IRS inquiry. Bah Dah !!!

Xavier
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Old 02-22-2011, 12:14 PM
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We live fulltime in The Villages, and it is a concern of ours. If the decision were to go against The Villages, and the bonds were required to be re-issued as taxable bonds, I think it could prove quite costly to Villagers. There are those who disagree with me. We really don't have a handle on what the impact will be to the residents. In any event, it has kept us from upgrading our house. I look at a house as an investment, and if I'm not sure I can get the bulk of my money back, I'm not going to put a lot of money into a home.
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Old 02-22-2011, 12:18 PM
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We are on, what, the third agent working on this issue? The lead agents seem to get promoted off the case.
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Old 02-22-2011, 01:13 PM
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Looking at a house as an investment is a mistake.....ala 2008-2009.
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Old 02-22-2011, 02:31 PM
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Oh Boy!!!!!
Well said!
  #9  
Old 02-22-2011, 02:51 PM
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Quote:
Originally Posted by Xavier View Post
You know what we know. No worries here! 86 degrees yesterday on the car thermometer on the way back from lunch at TooJays in Lake Sumter Landing. I don't spend one second thinking about the IRS inquiry. Bah Dah !!!

Xavier
Isn't that supposed to be.......
The Villages Florida ?
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  #10  
Old 02-22-2011, 03:11 PM
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Gee. Didn't think I would start all this "Binging" and "Booming." So sorry if I hit a sore spot.

We were just trying to gather enough info to avoid making a retirement mistake.

I respectfully suggest that we just let this baby go back to sleep......


ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ
  #11  
Old 02-22-2011, 03:20 PM
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Originally Posted by skyguy79 View Post
Isn't that supposed to be.......
The Villages Florida ?
...but I couldn't find a "BING" emotion, so had to settle for Bah Dah !!!
  #12  
Old 02-22-2011, 03:20 PM
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Default IRS Bond Issue

Taj44 I happen agree with you. This issue is much more than whether the bonds should have been tax free. Friend or foe you won't get a straight answer from anyone around here. Someone mentioned on another thread to read Leisureville for some insight regarding TV which is good advice before you buy here. The author stayed with neighbors who had moved down here and invited him down. I met these folks once when playing golf. I wonder if they still live here? I pray it all works out well for all of us.
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Old 02-22-2011, 03:31 PM
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Quote:
Originally Posted by Joaniesmom View Post
Gee. Didn't think I would start all this "Binging" and "Booming." So sorry if I hit a sore spot.

We were just trying to gather enough info to avoid making a retirement mistake.

I respectfully suggest that we just let this baby go back to sleep......


ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ
Oh please don't be offended, but this work horse has been beaten into a sea-horse. I can't for the life of me come up with a scenario where the IRS would come back on 80,000 plus residents for something that they had absolutely nothing to do with. I honestly believe that this will either just go away or be taken care of by the developer. In my simple mind (I openly admit that) I really wouldn't waste any energy worrying about it.

Xavier
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Old 02-22-2011, 03:42 PM
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Quote:
Originally Posted by Bogie Shooter View Post
Looking at a house as an investment is a mistake.....ala 2008-2009.
I guess that was my point. Houses used to be an investment - if you were in a good area, had the right upgrades, etc., you'd get your money out of them and possibly make some profit. Now you cannot count on that at all. With the extremely high premiums on the water view lots, we decided to stay where we are. If for some reason, the market in The Villages went south, we could afford to walk away. I'd hate to plunk down $half a million and wonder if I'd be able to sell it for that in the future. No thanks.
  #15  
Old 02-22-2011, 03:44 PM
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Quote:
Originally Posted by rubicon View Post
Taj44 I happen agree with you. This issue is much more than whether the bonds should have been tax free. Friend or foe you won't get a straight answer from anyone around here. Someone mentioned on another thread to read Leisureville for some insight regarding TV which is good advice before you buy here. The author stayed with neighbors who had moved down here and invited him down. I met these folks once when playing golf. I wonder if they still live here? I pray it all works out well for all of us.
That's interesting. I too hope it all works out.
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