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Sunday, February 09, 2014

HUGE VALUATION DISPUTE BREWING IN MICHAEL JACKSON ESTATE

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.

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