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Man gets $172 million tax bill
NEW YORK, The U.S. Internal Revenue Service sent a $172 million tax bill to a man who worked as a day trader in New York for less than a year.
Friends said Marcos Esparza Bofill, who has since returned to his native Spain, received a $172,101,056.48 bill for his unfiled 2006 tax return, the New York Post reported Wednesday.
"He was shocked. He's trying to figure out what's going on," one friend said. "In the end, he wasn't even making money (as a trader). He was definitely taking a loss. He arranged to get some money from a family member and wound up borrowing money again."
A tax expert told the Post the number was likely from the total amount of trades he made instead of the amount of profit he make from the trades. The expert said the occurrence is common for unfiled returns.
NEW YORK, The U.S. Internal Revenue Service sent a $172 million tax bill to a man who worked as a day trader in New York for less than a year.
Friends said Marcos Esparza Bofill, who has since returned to his native Spain, received a $172,101,056.48 bill for his unfiled 2006 tax return, the New York Post reported Wednesday.
"He was shocked. He's trying to figure out what's going on," one friend said. "In the end, he wasn't even making money (as a trader). He was definitely taking a loss. He arranged to get some money from a family member and wound up borrowing money again."
A tax expert told the Post the number was likely from the total amount of trades he made instead of the amount of profit he make from the trades. The expert said the occurrence is common for unfiled returns.
