Word: caplining
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...REFERENCE to the expenses thus incurred in looking over those $90-a-day Caribbean resorts might be one way to lead up to discussing the cover story on Tax Collector Mortimer Caplin. A more discreet way is to tell of another TIME correspondent at work, this one in Charlottesville, Va. A dean was telling him that Professor Caplin's taxation course was popular but hard, and that no one-including Bobby Kennedy-had taken the course just to get an easy grade. Well, then, what grade did Caplin give Bobby? "Fine, I'll get that for you," said...
...Caplin cover story and the Caribbean color pages are TIME specials. But in carrying out its job of bringing all things, TIME hopes to provide in every section unfamiliar nuggets of information, unexpected turns of phrase, news that informs and judgments that enlighten. We single out three unusual stories in this week's issue...
...Danger Point. Testifying before the House Ways and Means Committee in 1958, Law Professor Mortimer Caplin argued in favor of reforms to tidy up the tax mess. "We must recognize," he said, "the hodgepodge fashion in which special relief has been granted to various groups and how favors to one have led to many balancing favors to others. Our tax laws have become unbelievably complex. They are riddled with exceptions and preferences." Because of the complexities and inequities of the tax code, Caplin warned, "we have reached a danger point which strongly evidences an undermining of the tax morality...
...speed of jets permits businessmen to fly into a city in the morning and home again at night; this has cut the average stay in the nation's convention hotels from 4 days to 2½. And most hotelmen are convinced that Federal Tax Chief Mortimer Caplin's crackdown on expense accounts will cut the average hotel bill still more. "If the IRS rules remain as stringent as they are now, it'll murder us roomwise," worries Manager Ed Crowley of Los Angeles' Sheraton-West. "Guests who usually bring their wives or stay an extra...
Happy New Year! Inundated by irate letters since the rules were first promulgated last month, Caplin came to the hearing prepared to make concessions. IRS, he announced, has decided to rewrite the regulations, eliminating such pettifogging requirements as listing local phone calls. There was also a possibility that the $10 maximum for lumped small expenditures might be raised...