Word: tax-exempt
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Freed from editorial restrictions placed on it when it was published by a tax-exempt foundation, Ms. now features political coverage and a revamped news section. Current articles stress solid reporting and are deliberately less doctrinaire. "Ms. approaches the world with 'feminist' assumptions, but it doesn't mean we use the word in every sentence," says Summers. Despite these changes, the new Ms. is still in transition. "We are neither a workingwoman's magazine nor a traditional woman's magazine, nor a fashion magazine," declares Summers, unwittingly leaving the impression that she is far more certain about what...
What do an $800 Gucci briefcase, cosmetic surgery and a water slide have to do with spreading the Gospel? Nothing, the Internal Revenue Service ruled in effect last week as it revoked the tax-exempt status of PTL, the television ministry that supported the high living of Jim and Tammy Bakker. The IRS declared that PTL's business activities, including an amusement park, shopping malls and hotels as well as excessive payments to the Bakkers, served no ministerial purpose...
North was also accused of conspiring to defraud the Internal Revenue Service by using the tax-exempt National Endowment for the Preservation of Liberty to solicit $3.2 million in contributions, which he used to buy lethal contra aid. NEPL President Carl ("Spitz") Channell and Public Relations Consultant Richard Miller pleaded guilty to the same charges last spring, and presumably will testify against North. On all the charges, North faces a possible sentence of 85 years in prison and a staggering $4 million in fines...
...major goals of the bill is to encourage Harvard to divest immediately from companies with South African ties, said David Osborne, a spokesman for Barrett. "As an alumnus of Harvard, Barrett supports the use of state control over tax-exempt status for social gain," Osborne added...
Kraus said Graham believes Massachusetts should not "subsidize" South Africa in any way. "Institutions of higher learning need tax-exempt bonds to bring in revenue for facilities maintenance," Osborne said. "The bill makes institutions investing in South Africa ineligible to issue those bonds...