IRS Says Michael Jackson’s Estate Owes More Than $702M

By Nadia Noir

Michael Jackson‘s estate has “gotta be startin’ something” and that’s either a) paying back $702M in taxes or b) contesting that outrageously large estimate.

According to the LA Times (via LAist), the IRS is saying that Michael Jackson’s estate owes $505 million in taxes. Because it’s behind on taxes, it owes another $197M.

Allegedly, the King of Pop was only worth $7M when he died, but the IRS is saying that’s a gross underestimation. According to the big bad tax man, Jackson has worth $1.125 billion in his last days.

We all know about Jackson’s monetary issues while he was alive, so it seems like his accountants were up to no good or that something went terribly awry with the calculations. If that doesn’t make you reevaluate your accountant’s so-called smooth criminal “deductions,” you’re not up for this thriller lifestyle.


Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From 93.1 Jack FM

Best Of Los Angeles
Flashback Lunch

Listen Live