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Rochester Hills, Michigan
Experience: Advanced
Platform: Tradestation
Trading: Currency Futures
Posts: 200 since Jul 2010
Thanks Given: 856
Thanks Received: 143
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 Check this out.....
[COLOR=#015fb6][/COLOR]
Failed day-trader hipster chillen' over IRS tax snafu, says 'It's all a mistake'
BY [COLOR=#015fb6]Rich Schapiro[/COLOR]
DAILY NEWS STAFF WRITER
Thursday, August 26th 2010, 4:00 AM
 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 [COLOR=#015fb6]Marc Esparza[/COLOR], 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 [COLOR=#015fb6]New York[/COLOR] on a shoestring budget was laughing at the absurdity of it all.
On his [COLOR=#015fb6]Facebook[/COLOR] 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 [COLOR=#015fb6]NYC[/COLOR], but nobody cares about this here in [COLOR=#015fb6]Spain[/COLOR] - 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 [COLOR=#015fb6]IRS[/COLOR] 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 [COLOR=#015fb6]Barcelona[/COLOR] 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 [COLOR=#015fb6]Manhattan[/COLOR] 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."
Read more: https://www.nydailynews.com/ny_local/2010/08/26/2010-08-26_hipster_chillin_over_tax_snafu.html
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