Tag Archives: Michael Jackson

Tax Planning Beyond the Grave

January 03, 2017  |   Posted by :   |   International Tax Planning   |   0 Comments

Offshore Investment Magazine is widely regarded within the international financial marketplace as the leading journal for wealth management professionals. I am pleased to announce that they have recently published my article, Tax Planning Beyond the Grave – The Michael Jackson Case, as their lead cover story in the Nov/Dec 2016 issue.

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The IRS & Celebrity Tax Issues: Michael Jackson & Ronald Isley

December 22, 2016  |   Posted by :   |   International Tax Planning   |   0 Comments

The IRS is currently litigating with the Estate of Michael Jackson which they assert owes over $700m in tax, penalty and interest (which if upheld could potentially wipe out his estate and leave his heirs with no inheritance). At the heart of the case is the value of Jackson’s celebrity image, name and likeness (I […]

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The IRS and The Estate of Michael Jackson

May 24, 2016  |   Posted by :   |   IRS Tax Audits   |   0 Comments

In the ongoing dispute of the Estate of Michael Jackson, in a previously unreported court filing the IRS has increased their original claim for tax and penalty from $702m to $731m. The IRS now values the Estate (and Lifetime Taxable Gifts) at $1.178B compared to the Estate Form 706 Valuation of $7m, a valuation difference […]

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IRS & the Estate of Michael Jackson

February 14, 2014  |   Posted by :   |   International Tax Planning,IRS Tax Audits   |   0 Comments

The IRS and the Estate of Michael Jackson are litigating estate taxes in U.S. tax court. The IRS asserts the estate owes $702 million (i.e. $505 million in tax, $197 million in penalty). Jackson’s executor valued his estate at $7 million, the IRS value is $1.125 billion. Among the tax disputes: 1. The Estate valued […]

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