3/5/2012 9:32:31 PM
Reply
or ReplyNewSubject
Section 5: OPA Board Subject: OPA Loses IRS Case Msg# 823661
|
||||||
Linda,
This issue may have been floating around since 2001 and certainly from 2005. Reading the ruling the money OPA receives from Seacrets is not taxable but the money received from our own owners is taxable. Doesn't make sense. I think we were right to appeal the ruling but I always knew there was a good chance we would not prevail. I favor using the reserves to pay off whatever the final number is and I don't think there is any need for a special assessment. Again my greatest concern is implementing a policy to prevent a continuation of this problem. Ted |
||||||
|
||||||
For reference, the above message is a reply to a message where: It was always a possibility so now that its come to pass we need to deal with it. Why would this be this board's problem and not every board's problem since the issue was raised? Of course it's been a problem for a long while and it should have been dealt with previously, without going on for such a long time. I think it was probably, and this is just my opinion, of course, that previous boards should have taken care of it and put it to bed. I may be mistaken on this, but I think they were given bad advice a couple of boards back. Anyway, Ted, this board is stuck with the problem of dealing with it because of where they sit presently. That being said, I believe the monies should come from the reserves and not a special assessment. I don't believe you should have to come up with the special fee because you've paid your assessments, I'm pretty sure about that, and as I have as well, our money is part of the reserves. There are quite a lot of homes that have arrears and that won't change. You don't think those homes/lots/members are going to pay a special assessment when their arrearages are still in place do you? They won't pay the special assessment either. Linda |
Calendar |
OPA Board Meeting - Golf Clubhouse
1/25/2025 - 9: A.M. |
OPA Board Meeting - Golf Clubhouse
2/22/2025 - 9:00 A.M. |
OPA Board Meeting - Golf Clubhouse
3/29/2025 - 9:00 A.M. |
OPA Board Meeting - Golf Clubhouse
4/26/2025 - 9:00 A.M. |
OPA Board Meeting - Golf Clubhouse
5/24/2025 - 9:00 A.M. |