Word: caplining
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Internal Revenue Commissioner Mortimer Caplin, a onetime amateur boxer who has been taking some quick professional jabs at expense-account living, last week issued his "final" rules on tax deductions for business entertainment. Every time Caplin has tried before to clarify what can or cannot be written off, he has only upset more businessmen, who are inconsolable anyway. This time, under pressure from the hotel and restaurant lobbies, he taxed himself to show sweet reasonableness by liberalizing the rules. Businessmen will find it easier than they had thought to charge off casual lunches, parties at home or a night...
...SHOT LUNCH. Busmessmen are supposed to show "more than a general expectation of a direct business benefit" from entertaining a prospect, but the payoff need not come immediately. Caplin stressed that a prospect can be wined and dined on the 100-to-l chance that a contract might follow...
...trees and all the Kennedys are in bloom." The introductions that followed were dotted with Hope-isms: "Mr. James C. Hagerty (I remember when he was a caddie at the White House); the Waldorf's Conrad Hilton (a man who is really mixing business with pleasure tonight); Mortimer Caplin (the man who can answer the all-important question, is this dinner deductible?)." After laughter, and Hope, the Rev. Henry Pitney Van Dusen, president of the Union Theological Seminary, closed the program on the note that had begun it: "As we give thanks to those of every age, and especially...
MILTON CANIFF MORTIMER CAPLIN AL CAPP CLIFFORD P. CASE JR. CHARLES E. CHAMBERLAIN NORMAN CHANDLER CAROL CHANNING COLBY M. CHESTER INA CLAIRE MARK W. CLARK Lucius D. CLAY VAN CLIBURN CLARK CLIFFORD BENJAMIN V. COHEN LESTER LUM COLBERT ANITA COLBY EDWARD N. COLE LEROY COLLINS JAMES BRYANT CONANT FAIRFAX M. CONE JOHN SHERMAN COOPER THOMAS CORCORAN ERRETT L. CORD RALPH J. CORDINER VIRGIL COUCH JOHN COWLES EDITH CUMMINGS JOHN P. CUNNINGHAM ALEXANDER C. CUSHING
Times, astoundingly enough, have changed. According to a recent decision of the Internal Revenue Service, a proposed New York--New England regional office will be located in Boston, even though most of the income tax returns it handles will come from New York. But now, according to Mortimer Caplin, Commissioner of Internal Revenue, the reason is that the tax office wants to be near the Lawrence computing center...