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3/5/2012 8:30:50 PM
 
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Section 5: OPA Board Subject: OPA Loses IRS Case Msg# 823648
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Ted:
"Given a reading of the original ruling this is not necessarily a surprise" "not necessarily a surprise"! For the sake of the argument I will agree. That said, why would our Treasurer, who claims to be an experienced tax accountant, support the appeal as well as recommend that our Association spend additional assessment dollars hiring his old firm to consult with our tax attorney? Marty
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For reference, the above message is a reply to a message where: Joe, This has always been a possibility. The answer in my opinion is to: 1. First and foremost, make sure we have a policy in place at the Beach Club to negate paying taxes in the future. 2. Meet and negotiate a lump sum amount to pay the IRS settling all outstanding issues up through the current date and attempt to get a 24 to 36 month pay plan or a reduction for paying all of it at one time. 3. Take money from reserves and pay the bill in accord with any settlement agreement. Given a reading of the original ruling this is not necessarily a surprise. How we move forward now is the critical factor. Ted |
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