Larry Williams arrested in Sydney for tax evasion

Anyone in SB or Rancho Bernardo (or where ever) want to contact me for property and/or asset sales...feel free. Relevant contact info upon yours.

Cash paid up to 6 million.

Sincerely,
Dr. Z
 
Williams must have been really playing hardball in his IRS negotiations. The government usually gives you plenty of chances to fess up and pay.
 
Quote from Banjo:

There is no statute of limitations on monies owed the federal govt. Charlie Chaplin was an example of this. There is much missing from this story. It says he was negotiating with them , they can easily sieze all assets . They wouldn't snatch you in a foriegn country unless they thought you were fleeing and had removed assets from the US. Something is amiss and not clear in the story. He is a criminal now.

er that's not accurate. See http://www.wwwebtax.com/audits/statute_of_limitations.htm.
There is apparently no statue of limitation for fraud so that was sorta right. Its 3 for auditing a return and 10 for collecting. So its about what I was thinking
 
Quote from Htrader:

Williams must have been really playing hardball in his IRS negotiations. The government usually gives you plenty of chances to fess up and pay.

The heck if they do, they go in and take whatever they can get. They could care less if they destroy a business or not.
 
Quote from mschey:

He hasn't been convicted of anything yet.....thus he is not a CRIMINAL! You don't even stand a chance against the IRS though

As a researcher, Larry is one of the best. He is one of the few out there who actually trades. His material, has made me money, and continues to make me money. That's all that matters in our business.

As for the IRS tactics....this is complete BS.

Well said... agree...

cj...
 
Quote from mschey:

The heck if they do, they go in and take whatever they can get. They could care less if they destroy a business or not.

Apparently Williams could care less whether or not he fulfilled his civic obligations to pay his taxes.

No one really relishes giving to Uncle Sam, but most of us do it. And not only because we don't want to go to jail.

I have little sympathy for tax cheats. Because they don't pay their share, the rest of us have to cough up more of our hardearned dough. And that means less for my family. And everyone's.

I own five of his books, but if he is guilty, I hope they throw him the book.
 
if you have plenty of assets, they can be tough and wait. i have a buddy who didnt have much and they cut him a really great deal.

two problems to avoid

1) ex-wife
2) IRS

of once-successful guys that i know who are still slaving away and in deep poop, all had either of these two problems. i guess a third would be medical issues, but thats an act of God... ex-wives are a completely diffreent kinda act.
 
http://www.financialdirector.co.uk/accountancyage/news/2156646/market-guru-facing-tax-evasion

"Larry Williams is charged with creating false documents and using multiple bank accounts to evade his huge tax bill."

Wow. That just oozes integrity, doesn't it? Where is marketsurfer when Larry needs him?

Perhaps this little development sheds a new light on a previous exchange here on ET:

http://www.elitetrader.com/vb/showthread.php?s=&postid=1007920&highlight=larry+williams#post1007920

Two observations. First, people tend to be true to their nature. There is an underlying and undeniable consistency in how we tend to behave. And second, good old Larry sure knows how to draw a crowd, being the master promoter that he is. And often in that crowd is one pesky regulatory authority or another.
 
Some accountant say up to 10 years, and other said as long as the IRS wants it.

Quote from Kensho:

When is one safe from an audit? How many years have to pass or is there no limit to how far back the IRS can go?
 
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