Michael Jackson's Estate Faces $700 Million Tax Bill

February 6, 2017
Wow, you thought your taxes were bad.

The IRS is reporting that Michael Jackson's estate could be forced to pony up enormous tax payments in the neighborhood of $700 million dollars.

According to court papers, the estate says Jackson's name and likeness was worth $2,105 at the time his death, due to his bad reputation after being accused of child abuse. The IRS, however, argues Jackson's name should have been set at $161 million.

Depending on the case's outcome, the estate may be required to pay more than $500 million in taxes and $200 million in penalties. Ouch.

-Mike Draup

Photo: USA Today