CHARLES K. MARFO (RAY CHARLES)

Dead Alive - Michael Jackson Estate Facing $702 Million Tax Bill   Though Michael Jackson 's estate managed to pay off the star's massive personal debt (totaling nearly half a billion dollars) in November 2012, it's now being accused of undervaluing a number of Jackson's assets by hundreds of millions of dollars, reports Reuters . The IRS has handed the King of Pop's estate a $702 million bill for federal taxes and penalties. The tax filing in question is from 2009, the year the star died at age 50 after an overdose of a surgical-grade anesthetic. That year the Jackson estate claimed $7 million in taxable value, but was issued a tax deficiency notice of  $505.1 million in taxes and $196.9 million in penalties earlier this year. The estate filed a court challenge to the bill in July. Jackson's estate said that the artist's image and likeness were valued at $2,105, while the IRS determined the value to be $434 million.  A representati...

            Fat Joe Goes To Prison For Tax Evasion NEWARK, N.J. — Rap star Fat Joe (pictured) has reported to federal prison in Florida to serve a four-month sentence for tax evasion. An attorney for the performer, whose real name is Joseph Cartagena (car-ta-GEE’-nah), said his client surrendered Monday at a federal detention center in Miami. Cartagena pleaded guilty in December 2012 to failing to pay taxes on more than $1 million of income in 2007 and in 2008. The 42-year-old Miami Beach resident was charged in New Jersey because some of the companies he earns money from are incorporated in the state. The platinum-selling artist once topped the Billboard charts with the hit “What’s Luv.” Attorney Jeffrey Lichtman told the Associated Press that Cartagena was in positive spirits and looking forward to getting released and back to his family before Christmas.