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.