Close Menu
USTaxNews.live – Your Trusted Source for U.S. Tax & Finance Updates
  • Home
  • Audit
  • Finance
  • IRS
  • Legal
  • Tax News
  • Tax preparation
  • Tax Tips
  • USA Accounting
What's Hot

I Turned Down Ph.D. Program for a Startup; the Company Folded Quickly

July 20, 2025

Weight loss drugs could help treat PCOS

July 20, 2025

Nike Salaries: How Much Software Engineers, Designers, Others Get Paid

July 20, 2025

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated

Facebook X (Twitter) Instagram
USTaxNews.live – Your Trusted Source for U.S. Tax & Finance Updates
  • Home
  • About Us
  • Advertise With Us
  • Contact Us
  • DMCA
  • Privacy Policy
  • Terms & Conditions
  • Home
  • Audit
  • Finance
  • IRS
  • Legal
  • Tax News
  • Tax preparation
  • Tax Tips
  • USA Accounting
USTaxNews.live – Your Trusted Source for U.S. Tax & Finance Updates
Home » Trump says Harvard will lose its tax-exempt status
Tax preparation

Trump says Harvard will lose its tax-exempt status

EditorBy EditorMay 2, 2025No Comments3 Mins Read
Share Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link


President Donald Trump declared that Harvard University would lose its tax-exempt status, a designation that has allowed the school to avoid paying levies on its revenue under a classification for educational institutions.

Trump posted the announcement after weeks of threatening an Internal Revenue Service review of the Ivy League’s tax-free treatment. 

“We are going to be taking away Harvard’s Tax Exempt Status. It’s what they deserve!” Trump wrote early Friday morning.

Conservatives have targeted Harvard and other elite universities in recent years over accusations of ideological bias and allegations of a rise in antisemitism amid campus protests against the war in Gaza. Trump and other Republicans have accused the institutions of promoting liberal agendas and so-called “wokeness.”

“The next chapter of the American story will not be written by the Harvard Crimson,” Trump said during a Thursday night commencement address at the University of Alabama. “It will be written by you, the Crimson Tide.” 

The IRS code prevents presidents from interfering with the federal tax agency’s decisions. But the IRS commissioner reports to the Treasury Secretary and it was unclear if Trump’s announcement stemmed from his decision or that of the independent agency.

The White House, IRS and Treasury Department did not immediately respond to a request for comment. 

Trump’s fight with Harvard has escalated rapidly since the university rejected the administration’s demands to reform campus policies, arguing they went far beyond their stated efforts of combating antisemitism and threatened the school’s independence. The administration has frozen billions of dollars in funding that supported projects including ALS and tuberculosis research and Harvard has sued several U.S. agencies and top officials in response.

Harvard has warned of “grave consequences” should the Trump administration follow through on revoking its tax-exempt status. Democrats, including Senator Elizabeth Warren, have rallied around Harvard. The Massachusetts lawmaker said in an interview with Bloomberg News last month that it was “flatly illegal” for the U.S. president to direct the IRS to investigate or change status for a taxpayer.

Earlier this week, the university released long awaited reports on antisemitism and anti-Muslim bias that painted a scathing picture of how students treated each other in the wake of the Hamas attack against Israel on Oct. 7, 2023. 

“I’m sorry for the moments when we failed to meet the high expectations we rightfully set for our community,” Harvard President Alan Garber said in a letter accompanying the reports.

Garber has acknowledged the need to tackle antisemitism, noting that he’s experienced it directly while serving as the university’s leader, and said Harvard is committed to working with the administration. In recent weeks, the school placed the Harvard Undergraduate Palestine Solidarity Committee on probation and forced the faculty leaders of the Center for Middle Eastern Studies to leave their posts. Harvard also suspended a partnership with Birzeit University in the West Bank. Harvard has also renamed its diversity, equity and inclusion office as Community and Campus Life.



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Editor
  • Website

Related Posts

IRS reassesses service improvement projects amid cutbacks

July 18, 2025

IRS enforcement efforts hit by cutbacks

July 18, 2025

Trump’s law to cut US clean energy installs 41%, BNEF says

July 18, 2025
Leave A Reply Cancel Reply

News
Finance

Weight loss drugs could help treat PCOS

Wegovy injection pens arranged in Waterbury, Vermont, US, on Monday, April 28, 2025.Shelby Knowles |…

International inbound travel to U.S. shows mixed recovery

July 18, 2025

Insurers just marked the costliest first half of the year since 2011

July 18, 2025
Top Trending
IRS

IRS says churches may talk politics without running afoul of tax exempt status

Premium Membership Required

You must be a Premium member to access this content.

Join Now

Already a member? Log in here
IRS

NABA loses sponsors as political climate threatens diversity efforts

Premium Membership Required

You must be a Premium member to access this content.

Join Now

Already a member? Log in here
IRS

The pope took a vow of poverty. He may still need to file US taxes.

Premium Membership Required

You must be a Premium member to access this content.

Join Now

Already a member? Log in here

Subscribe to News

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated

Welcome to USTaxNews.live – Your Trusted Source for U.S. Tax, Accounting, and Financial News.

At USTaxNews.live, we’re committed to delivering accurate, timely, and practical information on everything related to U.S. taxes, IRS updates, legal issues, accounting practices, and the broader financial landscape. Whether you’re a taxpayer, accountant, legal professional, or business owner, we’re here to help you stay informed and ahead of change.

Our Picks

Health care premiums expected to rise for Affordable Care Act enrollees

July 18, 2025

Here’s your potential tax cut in 2026 from the One Big Beautiful Bill Act

July 18, 2025

Senate likely to clear hurdle on Trump’s spending cuts for public broadcasting, foreign aid

July 16, 2025

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated

  • Home
  • About Us
  • Advertise With Us
  • Contact Us
  • DMCA
  • Privacy Policy
  • Terms & Conditions
© 2025 ustaxnews. Designed by ustaxnews.

Type above and press Enter to search. Press Esc to cancel.