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Investing.com -- The Internal Revenue Service is preparing to revoke Harvard University’s tax-exempt status, CNN reported Wednesday citing two people familiar with the matter, a highly unusual move that signals escalating tensions between the Trump administration and the Ivy League institution.
A final determination could come within weeks, the sources said, as federal officials grow increasingly frustrated with the university’s refusal to comply with demands to alter its hiring and operational practices.
The administration has already withheld more than $2 billion in federal funds from Harvard, a significant financial blow to the nation’s oldest university. Harvard has resisted the administration’s efforts, asserting that private institutions retain the constitutional authority to govern their own academic and employment decisions without government interference.
The potential revocation of Harvard’s nonprofit status would mark an extraordinary step in the administration’s campaign to assert leverage over higher education, setting up a high-stakes legal and political confrontation.
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