IRS Says Prince Estate Undervalued More Than $80 Million
Written by Tariq on January 5, 2021
The IRS claims the Prince estate is being undervalued. The Internal Revenue Service valued Prince’s estate at $163.2 million. The number much higher than the $82.3 million valuation submitted by the estate’s administrator Comerica Bank and Trust, according to the Minnesota’s Star Tribute.
According to the report; the gap is tied to Prince’s music publishing and recording interests. Prince died in April of 2016 at the age of 57. He died without a will, leaving his sister Tyka Nelson and five half-siblings have legitimate claims over the estate. Comerica has requested a trial be held to settle the valuation issues. Click Here For Read More.
Source: Yahoo