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Michael Jackson's family cannot receive funds from his trust due to a tax dispute between his estate and the IRS.
Michael Jackson's family, including his mother Katherine and children Paris, Prince, and Bigi, cannot receive funds from his trust due to a legal conflict between his estate and the IRS. The IRS claims the estate undervalued its assets and owes $700m in taxes and penalties. The value of the estate for tax purposes and the deduction's value must be agreed upon before any financial distributions can be made.
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