Publishing: What's in a Loophole?

When the Commissioner of Internal Revenue has lunch with the ex-Commissioner of Internal Revenue, it's a good possibility that Topic A will be taxes. So it was last week in a private Washington, D.C., dining room where ex-Commissioner Mortimer Caplin broke bread with Sheldon Cohen, the man who succeeded him last year. One issue Caplin wanted to talk about was lack of taxes, specifically from the tax-exempt organizations that profit so neatly from their publications.

That tax loophole allows "educational" and other nonprofit groups to escape any Government bite on their publishing...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!