Word: caplining
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When the Commissioner of Internal Revenue has lunch with the ex-Commissioner of Internal Revenue, it's a good possibility that Topic A will be taxes. So it was last week in a private Washington, D.C., dining room where ex-Commissioner Mortimer Caplin broke bread with Sheldon Cohen, the man who succeeded him last year. One issue Caplin wanted to talk about was lack of taxes, specifically from the tax-exempt organizations that profit so neatly from their publications...
That tax loophole allows "educational" and other nonprofit groups to escape any Government bite on their publishing income. Caplin is not alone in his complaint. Democratic Congressman John Schmidhauser of Iowa has been prodding the IRS and the Treasury Department for months, pleading with them to tap a source of revenue he estimates at $110 million yearly. The stalling, suggested Schmidhauser in a House speech, comes from senior bureaucrats' "unwillingness to step on powerful toes." Republican Glenn Cunningham of Nebraska made it a bipartisan fight. "This is no matter on which reasonable men can differ," said...
Window Dressing? As long ago as 1960, Associated Business Publications, a group composed of taxpaying journals, asked the Internal Revenue Service to exercise its authority to close the tax loophole. After sitting on the request for five years, IRS-under Caplin's regime-finally approved it and sent it along to the Treasury Department. There the matter still rests...
Lancer to Wayside. Many who join Government, of course, are already distinguished in their fields and serve at a financial sacrifice. But the long-term rewards are worth it. Before being tapped by Kennedy as Internal Revenue Commissioner at a salary of $21,500, Mortimer Caplin was earning $50,000 a year in his tax law practice; since returning to private life more than a year ago, he has built up an income that "runs into six figures." Last week Najeeb Halaby, a onetime Navy test pilot who resigned last July after four years as administrator of the Federal Aviation...
Internal Revenue. As Internal Revenue Commissioner, a job left vacant since Mortimer Caplin resigned in July, the President picked Sheldon S. Cohen, 37, who just a year ago left the Washington law firm of Arnold, Fortas & Porter to become chief counsel at the Internal Revenue Service. There Cohen streamlined the legal branch, pruned excess personnel, installed automatic data-processing and microfilm files for his 650 attorneys. He hammered the point home to his staff that the Government's aim in any tax litigation was not just to win the case but to set principles of law. Cohen hopes...