The Nation - News from April 26, 1988
PTL officials vowed to fight an Internal Revenue Service ruling stripping the bankrupt television ministry of its tax-exempt status and blamed big salaries paid to Jim and Tammy Bakker for PTL’s troubles. David Clark, PTL’s court-appointed trustee, said PTL would file an appeal this week with the U.S. Court of Claims in Washington and that appeal would automatically allow contributions to PTL to continue to be tax deductible. Clark said deductibility would be extended retroactively to last Friday when the IRS announced it was stripping tax-exempt status from Heritage Village Church and Missionary Fellowship Inc.
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