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Michael Jackson’s Estate Owes $702 Million In Taxes! See Why HERE!

| Filed under: Oops!Legal MattersMichael JacksonTax Troubs

michael jackson estate owes 702 million dollars taxes

It’s like the dramz never ends for this family!

The IRS has been very busy making sure that Michael Jackson’s estate pays them what they’re owed, and they found a lot of missing cash!

Reportedly, MJ’s estate owes $505 million in back taxes, but because they weren’t paid, they also owe penalties of $197 million!

How in the world did they miss that much moolah?!

When the King of Pop passed away, his executors said his net worth was around $7 million. It turns out, that with all of MJ’s assets, like owning part of the Beatles catalogue, he was worth around $1.125 billion, with a B!

Since the numbers were so different, the IRS doubled their 20 percent underpayment fee for a gross valuation misstatement.

For example, MJ’s people said that his likeness was only worth $2,105, which is pretty ridiculous when you think of all of the clothes his face is on! The IRS pinned the number at something more like $434.264 million.

In just 2013, after he was already gone, Forbes said that Michael earned more than any other celeb, whether alive or not, at $160 million!

It seems like the numbers on just about everything were fudged!

Even Michael’s cars — two Bentleys and a Rolls Royce — were valued at $91,600, instead of the $250,000 the IRS decided they were worth.

We all know that the IRS loves getting their ca$$$h, but how in the world did someone come up with such different numbers and think no one would notice?!


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6 comments to “Michael Jackson’s Estate Owes $702 Million In Taxes! See Why HERE!”

  1. Heather says – reply to this


    So often it's the celebs that can actually afford to pay all these taxes that they themselves endorse yet they are the ones to evade paying, such bs.

  2. 2

    I guess that's why the family has been fighting the Estate so much. They really ARE crooks.

  3. 3

    The quicker those kids can get hold of the cash the quicker they can kick that sick money hungry family to the curb and OMG how dumb is MJ estate to value the beatles music as having zero monetary value. Even after all these years Beatles are still known as the best band ever! The overseers of that estate should all be fired, they certainly aren't acting in the best interest of the children.
    I hope Prince takes Blanket and breaks his sister out of that prison they have her locked in since none of them want to take responsibility for her. For as a weirdo MJ was, his kids are definitely not better off without him :/

  4. 4

    Re: PixieDust111 – I agree with you 100%

  5. 5

    This country has become a disaster! The IRS is out of control! The government forgets…they WORK FOR US! If you don't think the U.S. is collapsing, think again…it is…fast! If you owe the IRS $10,000 or over, they SEIZE your passport…just try leaving. And, if you do leave…even if you don't owe them, you have to pay an EXIT tax! We're now the Soviet Union…and they are what we USED to be.

    The U.S. is a disaster!

  6. strawberrygirl says – reply to this


    Re: PixieDust111 – why does everyone believe everything that the media put out there , open your mind to truth , most opinions I have read seem to take everything as the gospel, as MJ said , just because its in print does nt mean its the truth.Everything is built up to sell more .