A 116-year-old law gifted Harvard and most universities with tax-exempt status. Can Trump actually revoke it?

Quick Summary:

President Trump targeted Harvard University in a post on his social media site, questioning whether it should remain tax-exempt.

The Revenue Act of 1909 excused nonprofits operating “exclusively for religious, charitable, or educational purposes” in order to continue acting in the public interest.

In short, tax attorneys say nonprofits must operate “exclusively for charitable purposes,” which is a different standard than what the president referred to as, “acting in the public interest.

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Article Details

Author / Journalist: Gabriela Aoun Angueira, Thalia Beaty, The Associated Press

Category: EconomyBusiness

Markets: United States

Topics: IRS Supreme Court Taxes Donald Trump Colleges and Universities

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-17 @ 20:47:18 (2 days ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 999 words

Reading Time: 6 minutes read

Sentences: 8 lines

Sentence Length: 125 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 27968650

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Official Website: fortune.com

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