Word: taxed
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Although Harvard College’s decision to reimburse student groups for the “gift tax” is a welcome development, the Faculty of Arts and Sciences’ (FAS) refusal to rescind the tax or lend formal support to the College’s reimbursement is deeply troubling. The tax is unfair and, contrary to Dean of the Faculty Jeremy R. Knowles’ justification for his action, could be easily rolled back. Knowles should reverse course on the gift tax, which is symptomatic of the apathy toward student life that seems to have gripped University...
...subunit of FAS—including undergraduate student groups—can open gift accounts that FAS administers. Alumni can make tax deductible donations directly to them, and the Harvard Management Company manages the funds as if they were part of the rest of Harvard’s endowment. For student groups, the accounts have the added benefit of providing donors with the security of knowing that the groups can only withdraw from the accounts for specific purposes. The gift tax is a levy on any withdrawal that an FAS subunit makes from its own gift account. Without prior notice...
...concerns because, “With any new system, it’s going to have its glitches.” Iovino told The Crimson that he’d been made aware of the CharlieCard’s availability through Harvard’s employee program for pre-tax transit passes. While some students thought the new CharlieCard was “so cool,” others were still frustrated about the impending fare hike. “So they’re trying to force you to pay more for subway service that isn?...
Just four days after saying that the “there is no plan to repeal” a new administration-imposed tax on gifts to student groups, Dean of the College Benedict H. Gross ’71 told Undergraduate Council (UC) leaders this afternoon that groups will be reimbursed for the levy. In an e-mail to UC President John S. Haddock ’07 and Vice President Annie R. Riley ’07, Gross wrote: “I have spoken with Dean [Jeremy R.] Knowles and Dean [Judith H.] Kidd about the FAS gift...
...Events Board last semester. Speaking to Petersen-Sundquist supporters at a rally in Leverett Junior Common Room yesterday evening, Haddock said that Petersen’s relationship with administrators will allow the UC to build on his and Riley’s reform efforts. “The gift tax is a result of the dedication of people like Ryan and Matt. Both of them can just energize people so much and really capture the ears of administrators in the ways most people can’t do,” said Haddock, referring to yesterday’s announcement...