A dress designer's tax woes
Albert Nipon, then a manufacturer of staid maternity clothes, became the talk of the fashion world in the early 1970s when he introduced a line of ultra-feminine dresses. When the fashions appeared, everyone else was selling sportswear and jeans, but the carefully tailored garments were quickly snapped up by Saks Fifth Avenue, Neiman-Marcus and other tony department stores. The onetime Du Pont accountant was on his way. Sales of Nipon's dresses (price: $100 to $2,000) this year are expected to reach $60 million, and he has collected a clutch of celebrity customers, including Mary Tyler Moore, Barbara...
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