[jannd228]

http://blogs.orlandosentinel.com/new...s-penalty.html

Actually the second part is, I would not panic but like other issues in our lives I would try to be AWARE, the IRS usually wins, not always but almost always, as the ones who it appears have already paid financially a great deal for your lifestyle I would start to question how much of what you originally bought into is now disappearing, your developer created restaurants, your activity centers (free but now MVP is there for a fee, activities and clubs all seem to be created by you not the developer). If you Google or YouTube The Villages a lot of what you had is now no longer there, parades, holiday festivities etc., or at least that is the way it appears to me. As for the charter schools, I have someone researching that, I am NOT sure but according to NCLB (no child left behind), I think the developer had to put those in, it was not out of the goodness of his heart. He, like the folks at Disney, created something ALL can enjoy regardless of income, but like Disney fees escalate as time moves forward and infrastructure has to be replaced and becomes more costly. Paper is paper, subject to amendment.

I am just a former English teacher, but I was trained to read and edit essays (125 a week to be exact), I understand all writers of a newspaper, I don't think Ms Ritchie is trying to discredit any of you or the lifestyle you enjoy, I think she is just trying to get you to realize that because of this issue there could be financial problems down the road for the residents. Yes she is selling newspapers, but at least she made a percentage of you AWARE of the possibilities, and she is making perspective buyers look elsewhere.

The developer uses OPM, other people's money to produce what they do, then they borrow against that money, very little of their personal fortune is ever tied up in a development, everything is on paper, they have the legal means to walk away.

In this case, according to some articles I have read, they created something, legally according to FL law, and sold it to themselves and then sold it back. One article states you are being charged DOUBLE, the bond and your amenity fees. All profit to the Morses' for managing ($696 million is a LOT of money for any company per the article link). The IRS wants its pound of flesh so to speak, they are questioning the methodology used, not the lifestyle created.

I would contact or find a way to contact those in your community who have already brought suit, and WON against the Morse Family. I am sure they are aware of this current situation and perhaps could ease your fears. I wouldn't just hope it goes away or goes YOUR way. As someone pointed out many people, including celebrities, trusted Bernie Madoff. In this economy I would only trust immediate family, just make sure even in that case you have a positive relationship with them.

As the teens I taught would say: just sayin'

[villa2]

Originally Posted by jannd228

http://blogs.orlandosentinel.com/new...s-penalty.html

Thank you for posting. One observation: They closed the comments after just a few anti-Morse? Did I read that correctly? Also that column is over one year old.

[spk7951]

Originally Posted by jannd228

the IRS doesn't back down, he is the one who told me about it, I am now looking in New Smyrna, Bethune Beach, I am still going to come for an LSV but who knows what will happen in the future

someone stated it correctly this cannot be the precedent for other communities the Morses' have their money it is obvious from the posts they are slowly turning over their business concerns (restaurants is the prime example) and have plans to move elsewhere, yes they live in The Villages now but where else do they own property, I am sure other places

IRS usually completes their mission within a 7 year time frame not sure how many years this has been going on

So I guess the public comments from Mark Morse that the family is not going anywhere and they have started involving the next Morse generation in the business means nothing? My take of the selling of certain businesses they own is simply to down size and then concentrate on property leasing once TV is built out, but that is just my guess.

And as far as the IRS is concerned let me share an experience we had with the IRS. Soon after moving here in 2008 we received a letter from the IRS informing us that we owed over $900 in back taxes and penalties from our 2006 tax return. We sent the letter up north to our accountant who disagreed with the agents findings. He sent us back a letter explaining his position, which we forwarded to the IRS agent. Some time later we got a reply from the IRS saying that they had re-calculated our return based upon our accountants information and we now owed less than $600. My first reaction was that the agent did not know what he was doing but after talking to my accountant his advise was to pay and make it go away because it would cost us more to fight it.

[`willy]

Originally Posted by jannd228

the IRS doesn't back down, he is the one who told me about it, I am now looking in New Smyrna, Bethune Beach, I am still going to come for an LSV but who knows what will happen in the future

someone stated it correctly this cannot be the precedent for other communities the Morses' have their money it is obvious from the posts they are slowly turning over their business concerns (restaurants is the prime example) and have plans to move elsewhere, yes they live in The Villages now but where else do they own property, I am sure other places

IRS usually completes their mission within a 7 year time frame not sure how many years this has been going on

Thank You for the Info, Sorry your looking elsewhere, Its really a great place.
Willy

[jannd228]

Originally Posted by spk7951

So I guess the public comments from Mark Morse that the family is not going anywhere and they have started involving the next Morse generation in the business means nothing? My take of the selling of certain businesses they own is simply to down size and then concentrate on property leasing once TV is built out, but that is just my guess.

And as far as the IRS is concerned let me share an experience we had with the IRS. Soon after moving here in 2008 we received a letter from the IRS informing us that we owed over $900 in back taxes and penalties from our 2006 tax return. We sent the letter up north to our accountant who disagreed with the agents findings. He sent us back a letter explaining his position, which we forwarded to the IRS agent. Some time later we got a reply from the IRS saying that they had re-calculated our return based upon our accountants information and we now owed less than $600. My first reaction was that the agent did not know what he was doing but after talking to my accountant his advise was to pay and make it go away because it would cost us more to fight it.

As far as maintaining the business for future generations, two words Paris Hilton. You are taking THEIR word for it, even Roy Disney ended up on the outside and he WAS family.

With the IRS issue your accountant gave you good advice BUT if you ever do have a problem, get a constituent letter from a senator or congressman, you would be surprised how quickly things get resolved.

again just sayin'

[spk7951]

Originally Posted by jannd228

As far as maintaining the business for future generations, two words Paris Hilton. You are taking THEIR word for it, even Roy Disney ended up on the outside and he WAS family.

With the IRS issue your accountant gave you good advice BUT if you ever do have a problem, get a constituent letter from a senator or congressman, you would be surprised how quickly things get resolved.

again just sayin'

Yep, I am taking their word for it because I prefer to take people at their word until otherwise is known. If you prefer not to believe their word then that is your right.

Too bad I did not know about the constituent letter two years ago.

[jannd228]

Originally Posted by villa2

Thank you for posting. One observation: They closed the comments after just a few anti-Morse? Did I read that correctly? Also that column is over one year old.

The purpose of research is to find as many articles to support your position (in my case students had to support a thesis statement for a research paper), not just a few. The original article, I suspect, was to make people aware of the issues and FUTURE possibilities. One year later the IRS, according to protocol, has replaced the original agent assigned to the case, so new articles are appearing.

If I were to ask a student why he/she was writing about the issue I would want to see as much evidence to support their position as possible BEFORE I allowed them to continue the research project.

I would tell students to begin their research at least page 10 on a Google search and work forward, that way they would get as much information as possible about their topic not just the most current.

Each online newspaper is different, sometimes comments are closed only to readers and sometimes they have a time frame established.

[graciegirl]

Jannd228.

Have you physically been here in The Villages????

[jannd228]

briefly with friends in May 2010

[Taj44]

Originally Posted by jannd228

http://blogs.orlandosentinel.com/new...s-penalty.html

Actually the second part is, I would not panic but like other issues in our lives I would try to be AWARE, the IRS usually wins, not always but almost always, as the ones who it appears have already paid financially a great deal for your lifestyle I would start to question how much of what you originally bought into is now disappearing, your developer created restaurants, your activity centers (free but now MVP is there for a fee, activities and clubs all seem to be created by you not the developer). If you Google or YouTube The Villages a lot of what you had is now no longer there, parades, holiday festivities etc., or at least that is the way it appears to me. As for the charter schools, I have someone researching that, I am NOT sure but according to NCLB (no child left behind), I think the developer had to put those in, it was not out of the goodness of his heart. He, like the folks at Disney, created something ALL can enjoy regardless of income, but like Disney fees escalate as time moves forward and infrastructure has to be replaced and becomes more costly. Paper is paper, subject to amendment.

I am just a former English teacher, but I was trained to read and edit essays (125 a week to be exact), I understand all writers of a newspaper, I don't think Ms Ritchie is trying to discredit any of you or the lifestyle you enjoy, I think she is just trying to get you to realize that because of this issue there could be financial problems down the road for the residents. Yes she is selling newspapers, but at least she made a percentage of you AWARE of the possibilities, and she is making perspective buyers look elsewhere.

The developer uses OPM, other people's money to produce what they do, then they borrow against that money, very little of their personal fortune is ever tied up in a development, everything is on paper, they have the legal means to walk away.

In this case, according to some articles I have read, they created something, legally according to FL law, and sold it to themselves and then sold it back. One article states you are being charged DOUBLE, the bond and your amenity fees. All profit to the Morses' for managing ($696 million is a LOT of money for any company per the article link). The IRS wants its pound of flesh so to speak, they are questioning the methodology used, not the lifestyle created.

I would contact or find a way to contact those in your community who have already brought suit, and WON against the Morse Family. I am sure they are aware of this current situation and perhaps could ease your fears. I wouldn't just hope it goes away or goes YOUR way. As someone pointed out many people, including celebrities, trusted Bernie Madoff. In this economy I would only trust immediate family, just make sure even in that case you have a positive relationship with them.

As the teens I taught would say: just sayin'

Great post Jannd228.