Total Liability could exceed $1 million
OPA has lost the IRS case in the U.S. Tax Court related to taxes at the Beach Club parking.
Potential OPA tax liability could amount to nearly $1 million for the period 2003 through 2011, not including interest. Interest could push the amount over $1 million. OPA General Manager Bob Thompson said today that the association is currently weighing its legal options. OPA could appeal the decision to a Federal court.
OPA has lost the IRS case in the U.S. Tax Court related to taxes at the Beach Club parking.
Potential OPA tax liability could amount to nearly $1 million for the period 2003 through 2011, not including interest. Interest could push the amount over $1 million. OPA General Manager Bob Thompson said today that the association is currently weighing its legal options. OPA could appeal the decision to a Federal court.
It should be noted that this case was decided on August 30, 2010, yet the OPA Board of Directors has yet to tell association members. The Board even failed to inform the membership of the decision at its meeting yesterday, choosing instead to go into private session to talk about it.
Association members deserve better communication from their Board of Directors.
Link below to the actual tax court decision:
Tax Court Decision
They must be DEMOCRATS!
ReplyDeleteWe have our name on our company truck and still have trouble finding where we left it. OAS
ReplyDeleteTypical of how the board of directors deal with most issues. As an 18 year resident I have seen the association dues more than double. The leaders pretty much run the ship and act just like the idiots in Washingto, tax and spend. What ever they decide if there is not enough money in the coffers just raise the dues. No wonder there are so many for sale signs.
ReplyDelete