Word: moratorium
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...TIME erred. Fortnight ago Maserati's creditors approved the controlled-man-agement plan, under which the company can get a moratorium on debts for a stated period and can revamp its credit structure through procedures similar to those used by U.S. corporations that are not insolvent...
...good habit can influence destiny. This is why the custom of making annual gifts to the Harvard Fund has a cumulative effect of great meaning for the future of Harvard." While the Fund may have a limited influence on destiny, it is indeed important to the College. The moratorium on Fund activities during the Program provides time for a reassessment of the organization of the solicitors of the Fund...
...every outlay for business expenses, the U.S. Internal Revenue Service decided to try to police a longstanding rule that taxpayers report the excess of reimbursements over expenses. Last year IRS put a line on the 1957 tax form for reporting reimbursed expenses, hastily gave taxpayers a year's moratorium after a howl rocked the very foundation of expense-accountland, sent martini glasses aquivering from Manhattan's gay "21" restaurant to Los Angeles' sporty Romanoff...
...quickly as possible, the United Auto Workers' Walter Reuther is plumping for a temporary suspension of withholding taxes. Ford Motor Vice President Theodore O. Yntema goes even farther, suggests a moratorium on all income taxes, whether withheld or paid quarterly. Neither plan has found much support, largely because both are considered unconventional, difficult to administer. Labor unions and some Democrats have suggested a rise in the personal income-tax exemption from $600 to $700 or $800. Legislators of both parties frown on such a plan because it would free millions of people from paying any taxes, remove the sense...
...would not commit itself. Yet it was openly concerned about the plight of the miners. Its raw materials chief, Jesse C. Johnson, was re-examining the wisdom of the moratorium on mill construction, will report to the congressional committee in mid-March...