Micheal Jackson’s Estate Ordered To Pay $500 Million In Taxes

The likeliness of Micheal Jackson has been questioned in the latest lawsuit against the singer.

According to Time, the IRS want Jackson’s estate to pay over $500 million dollars in taxes after falsifying Jackson’s worth. His family claims that the icon is worth $7 million, but the government claims the King of Pop is work over $1.125 billion dollars. They have ordered that the estate $505 million in taxes, and $197 million in penalties.

Other factors in the IRS case is the use of Micheal’s image and huge catalog, including his rights to popular Beatles songs. His estate valued Micheal’s image at $2105 but the IRS claims his image is worth $434 million.

The estate and the IRS haven’t reached a settlement, but the estate is hoping that they can pay the taxes back with a 15-year-plan.

Photo Credit: Wikipedia 

Source: entertainment.time.com