TLG Managing Partner Jeff Tenenbaum Quoted in Barron’s Article, “Harvard’s Tax-Exempt Status Will Be Revoked, Trump Says. It Won’t Be Easy to Follow Through”

TLG Managing Partner Jeff Tenenbaum was quoted in a Barron’s article entitled, “Harvard’s Tax-Exempt Status Will Be Revoked, Trump Says. It Won’t Be Easy to Follow Through.” “But it won’t be easy for the Trump administration to follow through on this threat. The president and the Internal Revenue Service—which reportedly is also considering taking away Harvard’s tax-exempt status—don’t have the ability to revoke it through an executive order “or with the mere stroke of a pen,” Jeffrey Tenenbaum, a lawyer who works with nonprofits, wrote in an April 28 note to clients.”

“Congress could potentially do so, but legislative action regarding Harvard or any other institution hasn’t been put forward. Revoking the tax-exempt status of any entity requires individual IRS audits, “with ample opportunity for the entity to defend itself, and including multiple routes of appeal,” Tenenbaum wrote.”