So about 2 weeks ago I purchased a ModMic 4 to go along with my ATH-m50xs, and after installing the modmic with my headphones, I realised that the audio quality of the mic was pretty terrible and soon after figured the reason for this was my motherboards crappy onboard audio. So I then bought an Asus Xonar DGX soundcard and it completely fixed the sound problems and it sounds great now. The only problem now, is that while my microphone is on I can hear myself through my headphones. I looked up this issue and didn't find anything specific for the modmic but the main "fix" was to go into recording devices select the microphone, select the "Listen" tab then uncheck "Listen to this device" and then its seems to fix the problem, but this is not the case for me. I still have the problem and it is really bugging me to have mute my microphone when I'm not speaking on Skype or in-game to not hear myself breathing.
If anyone has any advice or a way to fix my issue it would be greatly appreciated as this is really bugging me.
EDIT* This was solved by uninstalling the current Asus drivers and installing and older version of the drivers.