Harvard University is facing possible revocation of its federal tax exemption, a significant financial perk that allows it to avoid paying hundreds of millions in taxes annually. This scrutiny comes as the Trump administration has pressured the university to alter its hiring, admissions, and curriculum practices. President Trump has been vocal about the issue, threatening to withdraw Harvard's tax-exempt status and cutting $2.2 billion in federal funding due to its non-conformance with administration demands. The article elucidates the nature and implications of tax-exempt status under U.S. tax law, detailing the restrictions placed on organizations classified under Section 501(c)(3).
Harvard, like many American colleges and charities, enjoys a federal tax exemption, a status granted by the Internal Revenue Service that allows the wealthy Ivy League university to forgo paying perhaps hundreds of millions of dollars a year in taxes.
The I.R.S. is now weighing whether to revoke Harvard's tax exemption, according to three people familiar with the matter, as the Trump administration demands that the university make changes to its hiring, admissions and curriculum policies.
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