Towards the end of '04, I 'purchased' $50 worth of EPCs offered by YMMSS and all that was required of me was to read postings by other members. After 90 days, I was due to cycle and I could either request my funds or let them rollover and purchase additional EPCs. I logged on in February to find that the cycle was lagging due to slow participation. At this point, I just figured I had lost another $50 and decided if things picked up, I would be notified via email.
Then sometime in January 3 after hearing nothing from or about YMMSS or STA for over a year, I received a 1099-Misc form stating that I had received nonemployee compensation in the amount of $1600 for 2006. I've never received any monies from them. I attempted to contact the company, sent a help ticket through the web site and received a response that stating that this 1099 was for 'ad credits' received. I thought that this was all just a rip off and never reported the the 1099 misc form.
YMMSS - Success Through Advertising as it is now known has sent me a 1099 for supposedly advertising credits I was issued when they could not fulfill their money doubler program.
I have not had contact with this company for over a year and now out of the blue I earned $1600 dollars in 2006. I sure would like to have the cash and would gladly claim it on taxes if I had actually been paid anything.
Here is the response I got after submitting a help ticket. I called the number on my 1099 and was directed to submit a help ticket at ymhelp.com.
Here is their repsonse:
Hello
We posted an Announcement in STA Alerts in your back office in October regarding possible tax liability for the 160 Survey WAC's you received for completing the Survey. These WAC's (posting credits) are valued at $10.00 per WAC and taxable income is $1600.00.
Now it's Sept and I receive a letter from the Internal Revenue Dept stating That I never reported the 1099-Misc form in and that I now owe $650.00. (tax plus penalty).
I just went online and noticed this report.
One of the internet's biggest scammers in recent years, Kim Inman, who's YMMSS (Your Money Machine Success System) and STA (Success Through Advertising) scammed millions of dollars from unsuspecting victims on the internet has now sunk to an even lower level of deception.in recent posts to internet forums such as MatrixWatch.org and TalkGold.com, former victims are up in arms about false 1099 forms they are receiving from STA. Many of these people have reported that they did not even see a dime of their money returned in Inman's elaborate scheme, but they are being served with 1099's for their full realized profits.
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