Word: tax-exempt
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About 55 per cent of Cambridge property is tax-exempt, much of it Harvard property, Sullivan said. Cutbacks resulting from Proposition 2 1/2 will make the city miss these revenues more than before, he said, adding that a bill now pending before the state assembly would allow the city to tax half of Harvard's property...
...Dial has won a decisive round in the battle: the Internal Revenue Service rejected a challenge from Merrill two weeks ago, ruling that Public Broadcasting Communications, Inc., which publishes Dial for the sponsoring stations, is a nonprofit, tax-exempt organization. Merrill had already lost a round with the Federal Communications Commission, which last month refused to prohibit PBS stations from promoting Dial...
...school's first-come, first-served policy of admission. The Internal Revenue Service seems to see things Thomsen's way. According to IRS standards in use at that time, any private school starting up or expanding in an area undergoing mandatory integration would normally have been denied tax-exempt status. Satisfied that the Palisades Village School was operating "in a bona fide racially nondiscriminatory manner," the IRS granted the new school a nonprofit, tax-exempt status. "I don't think they're racist," says Walter Young, principal of two of the three public elementary schools...
Graham attributed the reversal to increasing sympathy among legislators for Cambridge which is trying to "collect taxes from a stone." Fifty-two per cent of Cambridge's property is now owned by tax-exempt institutions, of which Harvard, after the city itself, is the largest...
...back last week by filing a suit in New York federal court against the IRS, asking it to cut off the church's tax exemption. The suit charges that through letter writing, articles in church newspapers and other activities, the church is violating the IRS code under which tax-exempt religious institutions may discuss issues but not campaign for particular candidates...