I have two questions:
1. Is there anyone out there who is as stupid as me? When you read my report, you'll be able to answer it.
2. Is there any way I can get all, most, some or even any of my money back from these theives?
Here's how it all went down.in December I learned, both from a coworker and from a radio ad, about NADN and their "guarantees" of large tax refunds. Well, being tired of being bled white by the IRS, I spent $437 to join NADN. I found out in January, that the $437 was only for tax consulting, and that actual tax preparation would cost another $500. But, for $2695, I could buy a website from a company called Oryan Management and because of their compliance to the Americans With Disabilities Act, I would be eligible for a $5000 tax credit, plus a $5000 plus tax deduction.
So the investment would actually be paid off by the tax refund I would be getting. And with that $2695 they would throw in the tax preparation for 2001. The ShopN2000 investment, of course, would not be eligible for my 2001 tax return because I purchased it after the beginning of the year 2002. I understood that much. I figured that I would have enough business deductions from my little home based business, to get me a handsome refund anyway. Not so. It turned out I owed $2700 for the same as I owed for my 2000 return. I stewed about that, but I figured that there's nothing I could do about it this year, but next year I would get a fantastic refund (five figures!), which would more than make up for everything.
In August of I was in Las Vegas visiting my daughter who lives there. I stopped in at the NADN conplex. I had my 2001 tax return with me, and they looked it over and said they could back up my purchase of the ShopN2000 site to December 0f because that was when I joined NADN, and therefore the $5000 credit would be elibible, and we could file an amended return and I would get back the money I paid IRS that previous April, and then some, because they were going to look over my 1999 and 2000 returns for any possible errors.
They talked me into buying another modification, or web site accessible to the handicapped, and I cheerfully handed them another $2695 in the form of one of my credit cards. Well, I thought this was great, and after about 2 months of tax research, they gave me an amended return to send in and it got me a refund of about $8000. I was very happy about that. Then, in things got rediculous. A senior tax strategist called me in about March and told me how important it was for me to form a corporation.By doing so, I would never pay taxes again.
That sound good to me, so I (ever so reluctantly) handed over $3995 to form a corporation. I got a fancy zippered leather binder in the mail, with all kinds of fancy documents showing that I was registered with the state of Nevada as a corporation. I even got an embossing gun for putting my own personal corporate "seal" on everything I touched. A corporate lawyer from NADN (probably just a salesman) called me and spent about an hour on the phone and walked but it turned out I was in no way ready to form a corporation.
Also, in March of a "senior tax stratigist" (salesmsn) called and told me I had to have a business plan which would run my two ShopN200 modifications for me, making them turnkey businesses. That would cost me $1500. I figured it was worth it.in the meantime, the tax technician (preparer) contacted me and told me how much of a refund I was getting, which was nowhere near what I expected. For some reason, I wasn't being allowed the full $5000 tax credit for the ShopN2000 website for the visually impaired.
Well, I figured, at least I didn't owe anything, and things would probably get better, because I was in the "Elite Client" status and I knew that they were looking out for me, and were working day and night to make sure that I am being well taken care of. Also, somewhere in the interim, I bought a third website modification for 2003 (to be filed in April) for $2695. Are you keeping track of the money spent? Well, don't hit the "total" key yet. It gets worse. Last August, another senior tax strategist called me (salesperson), and told me about a "Silver Anniversary Special" they were running. They wanted me to purchase ten years worth of tax preparation and audit protection for $600 per year, or $6000. That means that I would never have to worry about IRS harrassment for 10 years.
I didn't think $600 was a bad price to pay for high quality tax accounting and legal protection (ha). And somewhere in the interim I bought a fourth mofification for $2695. All of this is on credit cards. I've already done the math for you, cause I know you're busy. It comes to $20,017!! Can anybody top that? If someone can, it would sure make me feel a lot better. But that's not the end of the story. I got a letter from the IRS in January that the tax credits for my 2001 and 2002 returns are being disallowed, and I owe the IRS about $10,000. That letter has been turned over to NADN and the issue is in negotiation as we speak. So the outcome remains to be seen, though I am not very comfortable right now.
On top of that, I'm constantly being bothered by NADN people trying to get me to buy hit generators to pay down the promissary notes on my websites. The hit generators cost about $2000 each, and I need 3 of them. You do the math. The promissary notes, which I forgot to mention, are the balances of the purchase prices of the web sites. The web sites cost about $10,000 each, which means, after you pay the $2695 as mentioned above, leaves a promissary note of about $7000 per site. I was told at the onset not to worry about the promissary notes, because they would take care of themselves by clicks on the web site (ha). Which brings me to my second question: Does anybody out there know if and how I can get my money back from these people?
Steve
Phoenix, Arizona
U.S.A.
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