Michael Jackson’s Estate Files Suit in Tax Court

The Jackson Estate is arguing that the IRS hasovervalued Michael Jackson’s assets. Some of the overvalued assets include realproperty, an automobile, and the singers “image and likeness.” InMay, the IRS filed a “notice of deficiency” regarding the estate’stax return.

The co-executors of Michael Jackson’s estatefiled a petition. According to the petition, the estate’s valuations were”accurate and based upon qualified appraisals by qualified appraisers whohad extensive experience in valuing entertainment industry assets.” The casewas filed July 26 in Tax Court in Washington. 

See Andrew Zajac  Michael Jackson’s Estate Challenge IRS Tax Dispute,Bloomberg,  Aug. 20, 2013.

Special thanks to BrianCohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.)for bringing this article to my attention.