Harvard's Tax-Exempt Status Under Threat

The IRS is planning to possibly revoke Harvard University's tax-exempt status. This follows President Trump's threats and demands for academic program changes. A final decision is anticipated. Neither the IRS nor the Treasury Department has commented on this development.

The Internal Revenue Service (IRS) of the United States is reportedly considering revoking Harvard University's tax-exempt status, according to sources cited by CNN. This development could mark a significant shift in the university's financial standing, pending a final decision that is expected imminently.

This report follows closely on the heels of President Donald Trump's recent warnings that Harvard could lose its tax-exempt status. The President's threats were linked to Harvard's resistance against what it described as unlawful federal demands to overhaul its academic programs or risk losing federal grants.

As the situation develops, neither the IRS nor the Treasury Department, which supervises tax collection activities, has responded to requests for comment on the allegations reported by CNN.

(With inputs from agencies.)