In a surprising turn of events, Harvard University has lost its tax-exempt status, leaving the prestigious institution scrambling to find a solution. The decision, made by the IRS after an investigation, has sent shockwaves through the academic world.

Despite being a long-standing tradition for universities like Harvard to enjoy tax-exempt status, recent scrutiny has raised questions about the institution's financial practices. President Trump, a vocal critic of Harvard's endowment, has been pushing for the revocation of their tax-exempt status for years.

A Harvard professor, speaking on the condition of anonymity, revealed that the university was not prepared for this outcome. The loss of tax-exempt status could have serious financial implications for the institution, leading to increased costs for students and faculty.

Harvard has yet to release an official statement regarding the revocation of their tax-exempt status. However, it is clear that the university is facing an uncertain future as it navigates the fallout of this decision. As one of the most prestigious universities in the world, Harvard's loss of tax-exempt status is a significant blow that will undoubtedly have far-reaching consequences.