This is the largest valuation differential I have ever seen. It appears that Michael Jackson’s estate valued the estate at $7 million for federal estate tax purposes. The IRS is asserting a value of $1.125 billion, leaving the estate at risk for $505 million in additional estate taxes and $197 million in penalties. Areas of dispute include the estate’s rights in various Beatles songs, and the value of Jackson’s likeness.
Read the Time magazine article about it here.