Michael Jackson’s Likeness Valued at $4.1 Million in Big Tax Court Win for Estate
Steve Granitz/WireImage
The executors of the estate say the decision is a huge, unambiguous victory for Michael Jackson’s children.
More than four years after going head-to-head with the IRS in U.S. Tax Court, Michael Jackson s estate has emerged largely victorious with a federal judge finding the artist s worth at the time of his death to be much closer to its estimate than the government s and declining to issue any penalties.
The dispute centered on how much Jackson s image and likeness were worth when he died in 2009, which would determine how much in taxes the estate would owe the IRS. It also includes the worth of Jackson s interest in New Horizon Trust II, which included his stake in Sony/ATV Music Publishing, and New Horizon Trust III, which included Mijac Music, a publishing catalog that owned the copyrights to compositions Jackson wrote or co-wrote and works by other songwriters. (
Britney Spears parents at WAR as dad Jamie accuses her mother Lynne of exploiting their daughter s pain and trauma in conservatorship battle
Britney, 39, has been held under the conservatorship for 13 years following her much publicized breakdown in 2008
Father Jamie Spears controls her finances as part of his job as conservator and recently requested for her estate to pay his $2million legal bills
Mother Lynne, 65, is raising objections over Jamie s court costs and the allowance that he pays himself for the job
But in a new filing, Jamie, 68, has accused Lynne of exploiting their daughter s pain and says she has no knowledge of the conservatorship
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Photo: (Photo : Getty Images: Ethan Miller / Staff)
Britney Spears legal battle with her father is becoming costly, and he wants her to foot the bill. Reports say Jamie Spears has filed a case demanding that the toxic singer s estate pay more than $3 million in legal fees, including almost $2 million to his attorneys, who are trying to keep the 39-year-conservatorship old s in place.
According to a source close to Britney Spears, this money would come from her estate if the judge allowed it, which would effectively mean she would be paying her own father s attorneys to defend her in court.