Legal Question in Tax Law in Illinois

Money by mail: pyramid?

Got a letter that claims if I send $1 to the six people listed in the letter and send out 200 copies of the letter to people on a name list you can buy, you'll earn about $800,000 in 3 months. It says it is legal because when you send the $1, you write asking to be put on a mailing list. Would that be legal and should any money you get from it be reported for taxes?


Asked on 1/17/01, 1:30 pm

1 Answer from Attorneys
WILLIAM BRANDWEIN WILLIAM A. BRANDWEIN, A PROFESSIONAL LAW CORP.

Re: Money by mail: pyramid?

Don't believe every thing you read. It's a gimmick but don't expect the money, it's a "pipe dream." Whether it's taxable or not I'm not sure. Since you are doing something to actively solicit it, maybe. I don't thhink it's a gift.

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Answered on 2/12/01, 8:27 pm


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