Irs Demands Additional Taxes From Prince’s Estate

Prince’s death left fortunes behind which caused ongoing disputes about his estates true value. In the latest cash grab the IRS is claiming that the executors managing the property did not detail it’s true merit and are requesting additional taxes be forked up. Representatives for the IRS allege that the estate is worth twice what was initially assessed. The agency is arguing that the estate is appraised at $160 million while the executors originally valued it slightly above $80 million @TMZ. This has prompted Uncle Sam to request tax arrearage that totals 32.4 million by way of the U.S. Tax Court. They are also attempting to collect a $6.4 million penalty for the imperfect math. Prince was an accomplished American music icon who was known for his singer-songwriter and record producing brilliance.

Photo: Michael Ochs Archives/Getty Images


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