Decision on Harvard’s tax-exempt status expected soon – reports
The Internal Revenue Service (IRS) is making plans to rescind Harvard University’s tax-exempt status, with a final decision expected soon, according to multiple reports.
Some IRS officials have told colleagues that the treasury department asked the agency on Wednesday to consider revoking Harvard’s tax exemption, the New York Times reported.
Linda McMahon, the education secretary, said she doesn’t know whether Harvard will lose its tax-exempt status but argued “it was certainly worth looking into.”
“We’ll see what IRS comes back with relative to Harvard,” McMahon told CNN.
I certainly think, you know, in elitist schools, especially that have these incredibly large endowments, you know, we should probably have a look into that.
Donald Trump on Tuesday publicly called for Harvard to lose its tax-exempt status, hours after his administration announced a $2.2bn…