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RE: Sidney Lowe arrested for not filing NC income tax returns
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Posted: 2/18/2013 4:49 PM
RE: Sidney Lowe arrested for not filing NC income tax returns
There is a lot of stupid going on in here, some are jokes, some are people that actually are missing some chromosomes. For starters, Ol Sid isn't buying the latest hack software to do his million dollar taxes. He's paying a professional CPA. If you're not a CPA, and you make a million dollars, it's not even close to being worth your time to do them on your own. Especially when you can pay an expert $400-600 bucks to do it for you, it's actually cheaper that way considering a return with his financial depth would take a non professional hours upon hours.
And the Sid jr. comments are what they are. He wasn't speeding or jaywalking, I'll just leave it at that. I know my state alum friends and I had expressed our concerns and have used some rhetoric that would make the squeamish on here wet their pants. It is what it is, and this is a message board, get over it if you don't like the truth. Just an opinion, but if my kid got arrested at 22 for kidnapping, I'd consider myself as a (insert whatever you deem) as a parent. Just my $.02 on how I'd react because kidnapping is kind of a big deal to me at least.
If some of you all in the sunshine squad actually believe he forgot to file his taxes for three years straight, then I have some ocean front property in Kansas to sell.
Last edited 2/18/2013 4:54 PM by gopack247
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Posted: 2/18/2013 4:53 PM
RE: Sidney Lowe arrested for not filing NC income tax returns
drtax wrote:
FeloniousQ wrote: Again folks, he is not merely being charged with failure to file. That does not generally warrant arrest - it gets you letters, calls, and penalties.
The key word is WILLFUL. Willful failure to file a return. This could just be some rookie ADA trying to make a name for himself, but it is possible if not probable that they have some sort of evidence of him affirmatively not filing or not reporting something. This has to be the case, NC is more agressive than IRS, but to get this point there is much more going on than simply not filing. If this was the normal, you didn't file your return, it would have started with letters for a year maybe 2, then a phone call, the state will send a sheriff to knock on your door to deliver correspondence in person, if the state believes they are due some money they could garnish wages, use bank liens or even levy his account. If he didn't file his Federal return the IRS has likely filed it for him by now for 2009, probably not 2010 or 2011 yet.
There are several things that SHOULD have played out by now, before it gets to this point. But like you said the state has something on him, that is very serious. Big dollars. Maybe the letters started while Sid was still here. But if he's been living out of state since we fired him (er, accepted his resignation), maybe they couldn't perform those other standard operations like sending a sheriff to his door. Could be they arrested him because he's normally not in the state, and they didn't know when they might catch him at his NC residence again.
Last edited 2/18/2013 4:56 PM by TruthBKnownReturns
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Posted: 2/18/2013 4:56 PM
RE: Sidney Lowe arrested for not filing NC income tax returns
FeloniousQ wrote: Again folks, he is not merely being charged with failure to file. That does not generally warrant arrest - it gets you letters, calls, and penalties.
The key word is WILLFUL. Willful failure to file a return. This could just be some rookie ADA trying to make a name for himself, but it is possible if not probable that they have some sort of evidence of him affirmatively not filing or not reporting something. ADA's do not (with technical exceptions not applicable here) take out or file misdemeanor charges or issue arrest warrants, they prosecute those charges brought by law enforcement officers.
Last edited 2/18/2013 4:59 PM by SeaBarrister
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Posted: 2/18/2013 4:59 PM
RE: Sidney Lowe arrested for not filing NC income tax returns
SeaBarrister wrote:
FeloniousQ wrote: Again folks, he is not merely being charged with failure to file. That does not generally warrant arrest - it gets you letters, calls, and penalties.
The key word is WILLFUL. Willful failure to file a return. This could just be some rookie ADA trying to make a name for himself, but it is possible if not probable that they have some sort of evidence of him affirmatively not filing or not reporting something. ADA's do not (with technical exceptions not applicable here) take out or file charges, they prosecute the charges brought by law enforcement officers. They can also decide not to prosecute. Regardless, I don't think that's what's going on here. |
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Posted: 2/18/2013 4:59 PM
Re: Sidney Lowe arrested for not filing NC income tax returns
Come on man.  I'm not gonna drink anymore....I'm also not gonna drink any less
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Posted: 2/18/2013 5:00 PM
RE: Sidney Lowe arrested for not filing NC income tax returns
FeloniousQ wrote:
SeaBarrister wrote:
FeloniousQ wrote: Again folks, he is not merely being charged with failure to file. That does not generally warrant arrest - it gets you letters, calls, and penalties.
The key word is WILLFUL. Willful failure to file a return. This could just be some rookie ADA trying to make a name for himself, but it is possible if not probable that they have some sort of evidence of him affirmatively not filing or not reporting something. ADA's do not (with technical exceptions not applicable here) take out or file charges, they prosecute the charges brought by law enforcement officers. They can also decide not to prosecute. Regardless, I don't think that's what's going on here. But the charge and arrest occurs prior to the decision to drop charges.. if he was arrested today, the ADA isn't yet involved.
Last edited 2/18/2013 5:00 PM by SeaBarrister
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Posted: 2/18/2013 5:05 PM
Re: Sidney Lowe arrested for not filing NC income tax returns
just like our basketball program he just kept on waiting on next year.
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Posted: 2/18/2013 5:11 PM
Re: Sidney Lowe arrested for not filing NC income tax returns
I could imagine it would be very easy to let filing your taxes slip your mind, especially if most of your time is spent coaching and game planning....
SlickSW = One Great Wolfpacker!!
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Posted: 2/18/2013 5:16 PM
RE: Sidney Lowe arrested for not filing NC income tax returns
FeloniousQ wrote: He's not being charged with failure to file. He's not being charged with tax evasion. He's being charged with "willful" failure to file, which is somewhere inbetween. This is the code provision:
"Willful Failure to File Return, Supply Information, or Pay Tax. – Any person required to pay any tax, to make a return, to keep any records, or to supply any information, who willfully fails to pay the tax, make the return, keep the records, or supply the information, at the time or times required by law, or rules issued pursuant thereto, shall, in addition to other penalties provided by law, be guilty of a Class 1 misdemeanor. Notwithstanding any other provision of law, no prosecution for a violation brought under this subdivision shall be barred before the expiration of six years after the date of the violation." Yet we call it a "voluntary" tax system. LOL. God, Family, Wolfpack.
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Posted: 2/18/2013 5:16 PM
RE: Sidney Lowe arrested for not filing NC income tax returns
So have you guys figured it all out yet?
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Posted: 2/18/2013 5:19 PM
RE: Sidney Lowe arrested for not filing NC income tax returns
Ooh! This reminded me to file & pay my sales tax due Wednesday. Thanks, Sid!
------------------------------------------------------------------------
"I'm really only an Atheist on Christmas and Easter. Rest of the year...it really doesn't matter." - Dr. Gregory House
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Posted: 2/18/2013 5:22 PM
Re: Sidney Lowe arrested for not filing NC income tax returns
Wow. I sure am glad he isn't still our coach. What a disaster it would have been if he was arrested while still coaching our team.
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Posted: 2/18/2013 5:36 PM
Re: Sidney Lowe arrested for not filing NC income tax returns
Very true 48.
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Posted: 2/18/2013 5:36 PM
Re: Sidney Lowe arrested for not filing NC income tax returns
48wolfpacker wrote: Wow. I sure am glad he isn't still our coach. What a disaster it would have been if he was arrested while still coaching our team. I thought about that. Here we are, fighting for a top-four finish and first round bye in the ACCT, and our coach gets arrested for tax evasion (or failure to file, whatever). GREAT! Typical NC State ****!
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Posted: 2/18/2013 5:38 PM
Re: Sidney Lowe arrested for not filing NC income tax returns
^ Amen to that. While we don't yet know the details, the fact that Sid would not speak with the reporter today at his house is not a good sign regarding his guilt. If this was simply an error on behalf of the accounting firm, then I'm sure he's say as much. But if the guy knowingly engaged in tax evasion then he gets whatever comes his way. And in that situation, he would lose a great deal of respect and standing within our community - as well he should. But again, I'll wait to learn the details.
Lastly, I'm sure the Heels camp will somehow try and attach this embarrasement to NC State University itself. We of course had ZERO to do with this. Its a failure on the part of one individual. Be that as it is, I am a bit embarrased about it....for Sid. But from a big picture viewpoint its not even in the universe of the institutional fraud still ongoing on the hill.
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Posted: 2/18/2013 5:40 PM
Re: Sidney Lowe arrested for not filing NC income tax returns
Well, we can debate what's serious, but in my case all they did was send a certified letter. But no, I didn't file, I was military with my home of record of North Carolina--I filed with North Carolina of course--but they didn't know that. To them I was just an SSN living in Dayton that didn't match up with a return, so the computer cranked out a letter.
By no means was my income the same as Sid's, but it wasn't peanuts, either. They did file a lien against me BEFORE they even sent the certified letter. The first I knew of it was when a store wouldn't cash a check!
Bottom line, I would be absolutely STUNNED if the first notice Sid had of this was being arrested unless something got dropped or lost in the cracks. And it's possible given how much he was moving around, same as me.
(I was also a CPA at the time, btw.)
Last edited 2/18/2013 5:41 PM by Ben Washburn
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Posted: 2/18/2013 5:44 PM
Re: Sidney Lowe arrested for not filing NC income tax returns
Ben Washburn wrote: Well, we can debate what's serious, but in my case all they did was send a certified letter. But no, I didn't file, I was military with my home of record of North Carolina--I filed with North Carolina of course--but they didn't know that. To them I was just an SSN living in Dayton that didn't match up with a return, so the computer cranked out a letter.
By no means was my income the same as Sid's, but it wasn't peanuts, either. They did file a lien against me BEFORE they even sent the certified letter. The first I knew of it was when a store wouldn't cash a check!
Bottom line, I would be absolutely STUNNED if the first notice Sid had of this was being arrested unless something got dropped or lost in the cracks. And it's possible given how much he was moving around, same as me.
(I was also a CPA at the time, btw.) Prepare to be stunned
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Posted: 2/18/2013 5:48 PM
Re: Sidney Lowe arrested for not filing NC income tax returns
Ben Washburn wrote: Well, we can debate what's serious, but in my case all they did was send a certified letter. But no, I didn't file, I was military with my home of record of North Carolina--I filed with North Carolina of course--but they didn't know that. To them I was just an SSN living in Dayton that didn't match up with a return, so the computer cranked out a letter.
By no means was my income the same as Sid's, but it wasn't peanuts, either. They did file a lien against me BEFORE they even sent the certified letter. The first I knew of it was when a store wouldn't cash a check!
Bottom line, I would be absolutely STUNNED if the first notice Sid had of this was being arrested unless something got dropped or lost in the cracks. And it's possible given how much he was moving around, same as me.
(I was also a CPA at the time, btw.) Completely agree. As someone else stated, the State really just wants their money and they will "warn" multiple times before taking this kind of action. Arrest is always the last resort, not the first.
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Posted: 2/18/2013 5:49 PM
Re: Sidney Lowe arrested for not filing NC income tax returns
Loucouldcoach wrote:
Ben Washburn wrote: Well, we can debate what's serious, but in my case all they did was send a certified letter. But no, I didn't file, I was military with my home of record of North Carolina--I filed with North Carolina of course--but they didn't know that. To them I was just an SSN living in Dayton that didn't match up with a return, so the computer cranked out a letter.
By no means was my income the same as Sid's, but it wasn't peanuts, either. They did file a lien against me BEFORE they even sent the certified letter. The first I knew of it was when a store wouldn't cash a check!
Bottom line, I would be absolutely STUNNED if the first notice Sid had of this was being arrested unless something got dropped or lost in the cracks. And it's possible given how much he was moving around, same as me.
(I was also a CPA at the time, btw.) Prepare to be stunned Would not shock me in the least. Why? Because all the experts here said just the opposite and the board experts track record is like Deshawn Painter firing 3s. |
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Posted: 2/18/2013 5:55 PM
Re: Sidney Lowe arrested for not filing NC income tax returns
Saw Painter make 2, 3's in a row the other night!! LOL, but true.
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Posted: 2/18/2013 6:00 PM
Re: Sidney Lowe arrested for not filing NC income tax returns
"Prepare to be stunned"
You really think so? Give me a plausible scenario where someone didn't file their taxes for three straight years and the first they knew of if was when they were arrested.
Is it somehow possible? Sure, maybe three years in a row he filed and they got lost in the mail, and three years in a row the letter back got lost in the mail (or was even completely overlooked by the state until the third year), and he was literally sitting there oblivious when the knock came on the door.
It's possible, but extraordinarily unlikely in my experience either as a private citizen or as a CPA. The first year I can see because he'd just moved in and who knows? But after that?
No, I'll stick with my expectation of not being stunned to learn there was something more to it. Maybe not even Sid's 'fault' per se, but something more to it.
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Posted: 2/18/2013 6:10 PM
Re: Sidney Lowe arrested for not filing NC income tax returns
If he got arrested without numerous chances to fix the situation then someone will have a lot of explaining to
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Posted: 2/18/2013 6:11 PM
RE: Sidney Lowe arrested for not filing NC income tax returns
Isn't the State tax return a part of the Federal return now ? It is hard to imagine someone NOT filing. Also, was he actually "arrested" or was he served with an order to appear in court.
"Arrested" to me means stopped from what you are doing and put in jail. Is it possible that they did that to Sidney ? This whole thing is stunning in so many ways.
Not covering for him at all...just puzzled and stunned.
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Posted: 2/18/2013 6:12 PM
RE: Sidney Lowe arrested for not filing NC income tax returns
52Fan wrote: Isn't the State tax return a part of the Federal return now ? It is hard to imagine someone NOT filing. Also, was he actually "arrested" or was he served with an order to appear in court.
"Arrested" to me means stopped from what you are doing and put in jail. Is it possible that they did that to Sidney ? This whole thing is stunning in so many ways.
Not covering for him at all...just puzzled and stunned. You don't get a mugshot (seen throughout this thread) for getting an order to appear. |
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Posted: 2/18/2013 6:12 PM
Re: Sidney Lowe arrested for not filing NC income tax returns
goturbackpack66 wrote: Saw Painter make 2, 3's in a row the other night!! LOL, but true. The legend grows. "If you want the truth, ask me". |
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Posted: 2/18/2013 6:14 PM
Re: Sidney Lowe arrested for not filing NC income tax returns
Ben, I think that's a very fair assessment, but the real fact is, we really don't know. I admit it doesn't look good, but by him remaining silent at his house doesn't really surprise me either. Quite standard. Give this some time, and we all know, it will all come out, and let him be punished for the alleged crime by law if proven guilty. At this time, none of us here really know. There's no doubt Sidney Lowe is a high profile name, and it could also be a case of making an example of a big name. Would there be people that would love to bring a person like Sid down??? I hope that's not the case, but that wouldn't totally surprise me either. Could it also be a way of reflecting some of the heat from our neighboring University? Again, I hope not. That wouldn't totally surprise me either.
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Posted: 2/18/2013 6:15 PM
Re: Sidney Lowe arrested for not filing NC income tax returns
Ben Washburn wrote: "Prepare to be stunned"
You really think so? Give me a plausible scenario where someone didn't file their taxes for three straight years and the first they knew of if was when they were arrested.
Is it somehow possible? Sure, maybe three years in a row he filed and they got lost in the mail, and three years in a row the letter back got lost in the mail (or was even completely overlooked by the state until the third year), and he was literally sitting there oblivious when the knock came on the door.
It's possible, but extraordinarily unlikely in my experience either as a private citizen or as a CPA. The first year I can see because he'd just moved in and who knows? But after that?
No, I'll stick with my expectation of not being stunned to learn there was something more to it. Maybe not even Sid's 'fault' per se, but something more to it. I don't think its a question of whether something was filed but more of a was everything filed I would bet this is small change and will be handled very quickly 
Last edited 2/18/2013 6:15 PM by Loucouldcoach
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Posted: 2/18/2013 6:16 PM
RE: Sidney Lowe arrested for not filing NC income tax returns
You can be arrested for standing on the street corner. Until the details come out many things are possible:
1. Sid's stupid
2. Sid tried not to pay his taxes
3. A business partner screwed him
4. His ex-wife screwed him
5. The State of NC saw an opportunity to use him to make hay
6. A medium level peon saw the opportunity to get back at NCSU
7. His accountant is stupid
8. His accountant is a crook
9. All of the above
10 Some of the above
11. Stuff we have not even thought about
But know this - you can end up in jail and your mug taken at a drop of a hat in NC. You don't have to be guilty of anything other than pissing off the arresting officer.
And if your mouthpiece has not told you what to say, you keep your mouth shut.
I like the athletic type.
Last edited 2/18/2013 6:18 PM by lumberpack3
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Posted: 2/18/2013 6:21 PM
Re: Sidney Lowe arrested for not filing NC income tax returns
Yeah Bryanth, I watched Painter last week. He looked very good, definitely the big dog on a not very good ODU team. believe he had like 25 points, 11 Rebs. Looked to be in excellent shape. Still believe he could sneak in as a late second rounder, mainly because he really seems to have that long ball stroke now. At 6'9". Pretty valuable. A little break from the Sid thing LOL.
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Posted: 2/18/2013 6:30 PM
RE: Sidney Lowe arrested for not filing NC income tax returns
It has to be a conspiracy. Did anyone find out if the judge went to UNC?
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Posted: 2/18/2013 6:35 PM
Re: Sidney Lowe arrested for not filing NC income tax returns
"There's no doubt Sidney Lowe is a high profile name, and it could also be a case of making an example of a big name. Would there be people that would love to bring a person like Sid down??? I hope that's not the case, but that wouldn't totally surprise me either."
No doubt, just like that mess at dook a few years ago.
And weird stuff happens--in my case it was ten years later and cashing a check in Germany when I found out. They couldn't track me down because I'd moved so many times, so I know stuff can simply get dropped through the cracks. But as someone said, there was considerably less incentive to find me than Sid (I assume!).
We shall see.
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Posted: 2/18/2013 6:36 PM
RE: Sidney Lowe arrested for not filing NC income tax returns
The judge??? That's what I'm talking about. |
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Posted: 2/18/2013 6:40 PM
Re: Sidney Lowe arrested for not filing NC income tax returns
Eddie Biedenbach was just on the radio in Asheville (AM 570) and said he just got off the phone with "some people very close to" Lowe. He said he was told that Sidney, his accountant and his attorney had known about this for 2 months and Sidney flew out to Raleigh "to get this taken care of" and apparently the arrest was NOT expected. He also said Lowe is currently on a plane back to Salt Lake City. He also said that "in the end this will not look as serious as it does right now."
Well.
That said, I eagerly await a tweet or two from 'ol Lee.
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Posted: 2/18/2013 6:45 PM
Re: Sidney Lowe arrested for not filing NC income tax returns
Take it from someone in the know. You are not arrested unless the State has exhausted all the possible means to get you to file. There is a reason they have a 100% percent conviction rate.
I believe the children are our future Teach them well and let them lead the way
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Posted: 2/18/2013 6:50 PM
Re: Sidney Lowe arrested for not filing NC income tax returns
Ben, You seem to be a very honest person, and you're right "We shall see". They will get to the bottom of this, and that's a fact.
Last edited 2/18/2013 6:51 PM by goturbackpack66
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Posted: 2/18/2013 6:51 PM
RE: Sidney Lowe arrested for not filing NC income tax returns
How long before the BOG-mandated investigation that finds that this is an athletics issue?
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Posted: 2/18/2013 6:52 PM
Re: Sidney Lowe arrested for not filing NC income tax returns
SexualChocolate wrote: Take it from someone in the know. You are not arrested unless the State has exhausted all the possible means to get you to file. There is a reason they have a 100% percent conviction rate. Sorry, but I know for a fact that's not true. __________________________________
Come toward the light....
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Posted: 2/18/2013 6:52 PM
Re: Sidney Lowe arrested for not filing NC income tax returns
I want to add that the "people" Eddie B talked to.............I find their version VERY difficult to believe.
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Posted: 2/18/2013 6:55 PM
Re: Sidney Lowe arrested for not filing NC income tax returns
CalStabbinsGhost wrote:
SexualChocolate wrote: Take it from someone in the know. You are not arrested unless the State has exhausted all the possible means to get you to file. There is a reason they have a 100% percent conviction rate.
Sorry, but I know for a fact that's not true. Agreed - not true. The State of NC often arrests when they want to make an "example" out of you or send a message. I like the athletic type.
Last edited 2/18/2013 6:56 PM by lumberpack3
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Posted: 2/18/2013 6:56 PM
Re: Sidney Lowe arrested for not filing NC income tax returns
Off topic but, my CPA is a former IRS agent and told me if you are using computer programs, such as TurboTax, you are someone who does not mind the govt keeping more of your money than they are entitled to. He said there are gray areas the IRS hates for you to put money in certain places, but it is not illegal.
Too many Urkels on your team, that's why your wins low |
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