Michael Jackson’s children win legal battle in the United States – fr

0
26
Michael Jackson’s children win legal battle in the United States – fr


Michael Jackson’s children are ecstatic because they received a “huge victory” in the legal battle over their father’s estate with the US Internal Revenue Service.

The lawsuit was about the true worth of the King of Pop at the time of his death at age 50 in 2009, with IRS officials estimating $ 161 million and executors of Jackson’s estate claiming that it was instead $ 2,105 (£ 1,517), due to the damage to his reputation caused by accusations of pedophilia

According to the IRS, Jackson’s estate had underpaid his tax bill by nearly $ 500 million and could potentially owe an additional $ 200 million in penalties.

However, Judge Mark Holmes of the United States Tax Court ruled that Jackson’s name and image were worth $ 4.2 million, saying, “We have to research the value of each of Jackson’s assets. The value we place on them on the day of his death is, we recognize, much less than their value much later under the management of the estate.

“We are not making any particular judgment on what Jackson did or is believed to have done, but we have to decide how what he did and is believed to have done affected the value of what he left behind. “

John Branca and John McClain, co-executors of Jackson’s estate, called it a huge and unequivocal victory for Michael Jackson’s children.


LEAVE A REPLY

Please enter your comment!
Please enter your name here