Schedule C Filings -- Tax Nightmare

[drankoolaid]

Hello,

I read with great interest by those still posting
in the STA forums how to 'wash' the 1099 'earned income.'

Heck -- a few are even giving specific details
on how to do this -- filling out schedule C etc
giving 'tax advise' etc --

Look -- the folks that are dispensing this very bad
advise have done their schedule C's to 'wash'
(launder) the fake earnings against 'advertising expenses.'

These very folks are the shills for Inman and Company --

What these 'shills' may or may not realize is they
will be in a world of hurt when (yes when) the IRS
brings their lofty weight and resources forth
and ultimately rule AGAINST Inman and STA --

In other words all those who filed the phoney deduction
will be (if not criminally liable themselves) at the very
least forced into a position of re-doing their tax forms
for whatever years they took the 'fake deductions.'

My advise is do not place yourself in this position
in the first place -- use the complaint processes
outlined here at Matrix Watch to complain to the IRS.
United States Postal Service, FBI, Attorney Generals etc.

Anything that comes forth from Inman / STA
and his minions must be immediately assumed a lie.

Just a little food for thought - and some that may save people
further heartache and humiliation -- and yes legal troubles.

Best Regards,
Michael

[mercinary]

My advise is do not place yourself in this position
in the first place -- use the complaint processes
outlined here at Matrix Watch to complain to the IRS.
United States Postal Service, FBI, Attorney Generals etc.


Once again, very solid advice Drankoolaid. Matrixwatch is not (nor are any of its members) qualified to give tax advice. I doubt anyone over at YMMSS/STA are qualified to give said advice either. With that said, do as we have continued to suggest...contact the IRS regarding the matter. Only do the Schedule-C thing if the IRS suggests to. To me, it sounds pretty goofy, and I doubt any tax professional would suggest that you do it.

First and foremost, there is nothing to be lost by filing complaints.

-Merc

[Webwatch]

Every company/Individual in the UK dreads the visit of the taxman for the random Audit so any advice to make unjustifiable claims of expenditure by members on the YMMSS/STA forum is ludicrous.

The IRS will no doubt be familiar with every trick in the book (because they wrote it) so for Corey, Nori and others to try and mislead IBA's in how to file returns is leaving themselves open to prosecution, let alone the poor IBA's that actually follow STA's deception.

I keep saying this but, please-please call your local IRS office if in doubt they are there to help and thats what you pay your taxes for.

Don't panic if you have already followed the advice of the STA nutters, I think there is a form 1040X which can dispute a 1099 after it has been returned, but call your IRS office first-don't just take my word for it.

STA should expect to receive a lot of form 4598's in the next few weeks which the IRS will be sending out, and individuals will also receive a copy of them as well, possibly with form 4582 as well. I know its all dreaded paperwork but the correct and Honest completion of this paperwork could save you a lot of heartache in the future.

Don't forget the famous YMMSS/STA mantra 'Advertising can't be defective' well I guess they overlooked the simple fact it can be if it doesn't work or is used a smokescreen for tax avoidance.