Michael Jackson's Estate Faces $700 Million Tax Bill

February 6, 2017
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Wow, you thought your taxes were bad.

The IRS is reporting that Michael Jackson's estate could be forced to pony up enormous tax payments in the neighborhood of $700 million dollars.

According to court papers, the estate says Jackson's name and likeness was worth $2,105 at the time his death, due to his bad reputation after being accused of child abuse. The IRS, however, argues Jackson's name should have been set at $161 million.

Depending on the case's outcome, the estate may be required to pay more than $500 million in taxes and $200 million in penalties. Ouch.

-Mike Draup

Photo: USA Today

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