Harvard University, the oldest and richest in the U.S., is under scrutiny from the federal government following President Trump's threat to revoke its tax-exempt status. This threat comes after his administration's demands were rejected by the elite institution. Currently, Harvard is one of 1,700 tax-exempt colleges, meaning it pays no property taxes, benefiting significantly from its status under section 501(c)(3) of the Internal Revenue Code. Trump argues that its political activities may warrant taxation, though no evidence has been found to support this claim.
Perhaps Harvard should lose its Tax Exempt Status and be Taxed as a Political Entity if it keeps pushing political, ideological, and terrorist inspired/supporting 'Sickness?' Remember, Tax Exempt Status is totally contingent on acting in the best interests of the public, not engaging in political partisanship.
To be tax-exempt under section 501(c)(3) of the Internal Revenue Code, an organization must be organized and operated exclusively for exempt purposes set forth in section 501(c)(3), and none of its earnings may inure to any private shareholder or individual.
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