Harvard’s tax-exempt status in jeopardy amid reports that the IRS plans to rescind it

CAMBRIDGE, Mass. — The IRS appears ready to end Harvard University’s status as a tax-exempt institution.

According to a CNN report on Wednesday, two sources confirm the IRS is making plans to follow through on President Trump’s threat Tuesday to revoke Harvard’s tax exempt status.

A final decision is expected soon.

In a statement, a Harvard University spokesperson says there’s no legal basis for rescinding their status.

"The government has long exempted universities from taxes in order to support their educational mission," the statement read. “The tax exemption means that more of every dollar can go toward scholarships for students, lifesaving and life-enhancing medical research, and technological advancements that drive economic growth....Such an unprecedented action would endanger our ability to carry out our educational mission. It would result in diminished financial aid for students, abandonment of critical medical research programs, and lost opportunities for innovation. The unlawful use of this instrument more broadly would have grave consequences for the future of higher education in America.”

Students at Harvard Wednesday were eager to talk about the latest headline.

“It’s a crazy place to be right now,” said Calvin Osborne, a senior at Harvard University.

Sophomore Janaysa Dorcin added, “Sort of nerve wracking that we’re always in the news... This is a storm that we can weather, and I think we’ll be able to weather it with the students that are on campus now.”

Law student Jonathan Meilaender is graduating in a few weeks, but says the recent news has taken over campus.

“It feels as though my classes have come to life,” he told Boston 25 Wednesday amidst more federal action. “It’s a difficult time for the university and probably for the country as a whole. But, that we’ve seen other times as bad... People feel like the school has now taken an institutional stance and there’s less need for individuals or faculty to fill that role.”

The Trump Administration has already blocked more than $2 billion in federal funding to the university.

Boston 25 News has reached out the IRS for further comment.

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