The Internal Revenue Service has filed documents in U.S. Tax Court claiming that Michael Jacksonís estate has severely undervalued his image and music catalog, telling the pop starís executors that the estate owes an extra $505 million in taxes, plus $197 million in penalties.
IRS Disputes Value of Michael Jackson Estate
All Accounting Today articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, podcasts, blog discussions, and conference discounts. Registered members may also choose to receive our exclusive Tax Pro Today e-newsletters covering the latest breaking news, opinions from industry leaders and developing trends.