IRS Casualty Loss Audit Monthly Update Nov.1, 2008
IRS CASUALTY LOSS AUDIT
MONTHLY UPDATE
November 5, 2008
Dear Shareholders,
We have requested monthly updates from Poe and Freireich which will contain a status report of the overall case, any new or major developments, and information regarding individual unit owners, including what steps they have taken for each individual case. The information regarding individual unit owners has been redacted from this memo for reasons of confidentiality.
Please note that this is a “group action”. As such, our fee arrangement with Poe and Freireich does not include discussions with individual shareholders.
Therefore, all questions and concerns should be directed to the Castle Village Management office. Similar questions will be grouped and answered in the monthly update. Likewise, Poe and Freireich has been directed to refer all calls to CVOC.
“The current status of the case is as follows:
After careful consideration, all parties involved have decided to hire Jerome Haims Realty, Inc. to conduct an appraisal of the Castle Village property before and after the retaining wall collapse and to prepare a report to be used in our case.
Regarding the Summons to appear before the Internal Revenue Service (the “Service”) on September 12, 2008 and the extension that was granted, we complied with said extension and delivered the required information on October 14, 2008. Upon delivery of the required information, we requested that all future correspondence regarding this Summons be directed to our firm. As of this date, we have received no additional correspondence.
For those unit owners who have already received notices from the Service, and forwarded them to this office, please see the enclosure for more detailed information regarding the status of each case. For those unit owners who have received notices and have not yet forwarded them to this office, please do so as soon as possible.“ [REDACTED]
The redacted material is in the Castle Village Management Office. Shareholders wishing to know their individual status should please contact Frank Nadal.
If you have not already signed up to be represented by Poe and Freireich, we urge you to do so as soon as possible.
Your Castle Village Board of Directors
Posted: November 6th, 2008 under News and Announcements.
