Newspaper article St Louis Post-Dispatch (MO)

Briefs

Newspaper article St Louis Post-Dispatch (MO)

Briefs

Article excerpt

NATION AARP Group Pays $135 Million To Settle Tiff With IRS

The American Association of Retired Persons has paid $135 million to settle a dispute with the Internal Revenue Service over the income it earns from royalties on insurance, prescription drugs and other products and services. The settlement leaves open the question of whether the group's future income will be taxed, said the group's spokesman, Peter Ashkenaz.

The issue was whether the nonprofit AARP should pay taxes on group health, auto and homeowners insurance, investment products and mail-order prescription drugs sold by private companies that pay royalties to use the AARP's name.

Ashkenaz said the group paid $135 million in April for the tax years 1985 through 1993.

The payment was in lieu of taxes and was not an admission by the AARP that it either owed taxes or will owe taxes in future years. "The board just figured it would be . . . more cost effective, easier, to get the whole thing behind us," Ashkenaz said.

AARP has 33 million members. It had operating revenue of $369 million last year. AP MASSACHUSETTS Man Pleads Not Guilty In Threat To Kill Clinton

A construction worker has been charged with threatening to kill President Bill Clinton. Glenn R. Armstrong, 26, of Uxbridge, Mass., pleaded not guilty Tuesday and was ordered to undergo 20 days of psychiatric evaluation. Armstrong was taken into custody Monday in Wood's Hole, Mass., after he told a ferry ticket agent he needed to kill the president, who is vacationing at Martha's Vineyard. AP TARIFF AGREEMENT Dole Wants To Delay Vote Until Next Year

Senate Minority Leader Bob Dole says Congress should postpone a vote on a new global trade agreement until next year. President Bill Clinton wants Congress to approve the General Agreement on Tariffs and Trade this fall. …

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