Word: taxmen
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...well in the Maharaj Ji's paradise. Taxmen have been picking over the Divine Light Mission's finances. Even as contributions have been rising, the guru's bookkeepers have been busy juggling some $206,000 in debts; only recently they paid off the Houston Astrodome for a 1973 rally proclaimed "the most significant event in the history of humanity." Now, worst of all, the boy's sanctity-perhaps even his solvency-are being threatened by a family squabble: in India, the high-living guru's mother Mataji, who claims to be the ultimate authority...
...court also decided, 7-2, that the IRS may require banks to disclose depositors' names and other records when the taxmen have reason to be suspicious of large deposits or transactions. The decision, said worried Dissenters Potter Stewart and William O. Douglas, could let the IRS go off on "shot-in-the-dark" hunting expeditions. Speaking for the majority, Chief Justice Warren Burger conceded the problem but insisted that courts could deal with it by keeping careful limits on the IRS power. After all. Burger added, many taxpayers innocently "hide large amounts of currency in odd places...
That means that the Wagnalls Fund has to increase its scholarship handouts to something more than $400,000 a year; the federal taxmen have given the fund until the end of next year to bring its annual payout...
...that he could be a victim of some inept tax advisory preparers." The St. Louis Globe Democrat thought that "it is entirely reasonable to assume that the IRS would have dealt more generously with someone less vulnerable than the President." The Wall Street Journal, while siding with Nixon's taxmen in believing that the deductions on the papers could be defended, observed that "the nation has a right to expect better of Presidents" than Nixon's efforts to cut every conceivable tax corner. In eastern Michigan, where a special congressional election will be held next week (see following story...
...largest item that the staff challenged was the huge tax write-off that Nixon claimed for the gift of his pre-presidential papers to the National Archives. His taxmen had awarded him a total tax deduction of $576,000, which was the value set on the papers by Ralph G. Newman, a noted Chicago rare-book dealer and appraiser. Following established tax practice, Nixon had spread out the write-off, using $482,018 of it to offset income from 1969 through 1972; the remaining $93,982 presumably was to be applied to income in 1973. In all, the papers gift...