Word: refunds
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College alumni who requested more than the limit of two tickets will be sent only two, along with a partial refund...
...father, J. P. Morgan, and grandfather, J. Pierpont Morgan; after an emergency operation for an intestinal hemorrhage; in an Ontario hospital after a hunting trip. Pipe-smoking and softspoken, he never made big headlines like J. Pierpont or J. P. II, and once gratefully accepted a 1? refund on his federal income...
...SUIT RECORD of Government in last fiscal year was best in 15 years. U.S. won 71% of all civil tax suits. Taxpayers recovered only 12% of amount they claimed in refund suits, lowest average ever...
...offs work this way: a com pany can charge development and modification costs, and losses in market value of its products, (e.g., airplanes) against current expenses. If the company ends up with a net operating loss, it can claim its loss of profits from the Government as a cash refund on its three previ ous years' back taxes. If this is not enough to cover its losses, it can offset future earnings for up to five years. These write-offs are sometimes the most valuable ingredient in money-losing companies up for sale...
Rebate Reduction. The committee also dug into the FPC's policy on setting temporary rates. An FPC examiner found that a temporary rate increase by the Colorado Interstate Gas Co. was later reduced. The company owed its customers a refund of $50 million, but paid only $38.6 million in a settlement negotiated by the FPC. Kuykendall admitted that W. E. Mueller, president of Colorado Interstate Gas Co., had visited him, and said that a large refund would be financially disastrous to the company. But, said Kuykendall, "if Mr. Mueller had tried to argue the merits of the case...