The U.S. Tax Court began holding hearings this week on a long-running dispute between the Internal Revenue Service and pop star Michael Jackson’s estate over estate taxes.

The hearings, before U.S. Tax Court judge Mark Holmes, began Monday with testimony from Jackson’s former attorney, John Branca, who told the court his client was $400 million in debt at the time he died, forcing his attorneys to struggle to prevent foreclosure on his music and real estate assets, according to the Hollywood Reporter.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access