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Pay your TAXES!!!!
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Pay your TAXES!!!!

  #1 (permalink)
Elite Member
Rochester Hills, Michigan
Trading Experience: Advanced
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Posts: 200 since Jul 2010
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Pay your TAXES!!!!

Check this out.....

Failed day-trader hipster chillen' over IRS tax snafu, says 'It's all a mistake'

BY Rich Schapiro
Thursday, August 26th 2010, 4:00 AM

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Marcos Esparza Bofill was hit with a nasty surprise when he found out he owed the IRS millions in back taxes.

He's facing A $172 million tax bill - but the Spaniard scofflaw who fled the city broke is not sweating it one bit.
"It's all a mistake," failed day-trader Marc Esparza, 32, told the Daily News in an exclusive interview. "I only have to fill [out] the correct forms and everything will be solved .... I do have people taking care of this."
A day after he was exposed as owing an astronomical amount in back taxes, the Spanish-born hipster who survived New York on a shoestring budget was laughing at the absurdity of it all.
On his Facebook page, Esparza updated his status to read in Spanish, "I'm a fugitive. Catch me if you can."
"It's pretty strange. I became famous for a day in NYC, but nobody cares about this here in Spain - so for me it's just an Internet experience. Very funny," Esparza told The News in an email.
"It just makes me think of how nice it would be having this $500 million in my account now," he said - referring to the amount he'd have to have earned to amass such a staggering tax bill.
Because he never accounted for losses or expenses in tax filings, the IRS treated all of his trades as pure profit.
The garage-band guitarist lived for two years in Alphabet City - barely scraping by - before he moved back to Barcelona in 2007 for "a better quality of life."
"I did not file the tax because I did not have profits for 2006, and I thought I did not have to pay anything," Esparza added in an email. "I asked a pal who worked in taxes and [he] told me that it was [okay] if I leave it like that."
Esparza started his trading career in Manhattan with less than $20,000, but things quickly took a turn for the worse.
"My trading was successful at the beginning, but just enough to pay the bills," he wrote. "At the end of the oil boom, I took a small loss."

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Last edited by incometrade; August 27th, 2010 at 10:20 PM.
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  #3 (permalink)
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Near the BEuTiFULL Horse Shoe
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incometrade View Post

Seems I cant access the webpage .. is it a subsciber only service?


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  #4 (permalink)
Elite Member
Rochester Hills, Michigan
Trading Experience: Advanced
Platform: Tradestation
Favorite Futures: Currency Futures
Posts: 200 since Jul 2010
Thanks: 856 given, 142 received


Hey John sorry

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  #5 (permalink)
Elite Member
Rochester Hills, Michigan
Trading Experience: Advanced
Platform: Tradestation
Favorite Futures: Currency Futures
Posts: 200 since Jul 2010
Thanks: 856 given, 142 received


I fixed it! Sorry for the mistake

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