IRS Moves to Revoke Harvard's Tax-Exempt Status: What You Need to Know

The Internal Revenue Service is reportedly preparing to revoke Harvard University's tax-exempt status, a significant move amid the Trump administration's increasing pressure on the institution. This follows substantial funding cuts exceeding $2 billion. Trump suggested on Truth Social that noncompliance could lead to tax penalties, labeling Harvard's actions as contrary to public interest. Education Secretary Linda McMahon indicated the IRS might evaluate tax exemptions for other elite universities as well. Revocation is a rare occurrence, typically requiring extensive auditing and negotiation before any final decision is made.