The beneficiaries of Michael Jackson’s trust have not received any money amid a three-year dispute between the IRS and the late singer’s estate.
Prince Jackson, Paris Jackson and Bigi Jackson aka Blanket Jackson attend the press night performance of"MJ: The Musical" at the Prince Edward Theatre on March 27, 2024 in London, England.’s trust — specifically the King of Pop’s children and Jackson’s mother, Katherine — have not received any money amid a three-year dispute between the IRS and the late singer’s estate.
Back in 2021, the IRS issued a note of deficiency, claiming that the Jackson estate “undervalued its assets” and owed “an additional $700 million in taxes and penalties.” The estate and the IRS have volleyed about the audit over the past three years, with the situation exacerbated by legal in-fighting between 93-year-old Katherine Jackson and Michael’s youngest son, Bigi “Blanket” Jackson.
The estate’s stay on doling out payments to the beneficiaries will likely continue through the sale and until executors have a fuller grasp on what the estate is actually worth, information the IRS is waiting on before submitting a final tax bill,Actor Mamie Laverock Is 'Doing Well' and 'Out of Her Big Surgeries' After Falling Five Stories From Balcony
Shannen Doherty Says 'Little House on the Prairie' Co-Star Michael Landon "Spurred" Her Passion for ActingTo help keep your account secure, please log-in again.
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