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.
May 30, 2024
6 Articles