Posts

Showing posts with the label micheal jackson

IRS has accused keepers of King of Pop's finances with undervaluing assets in 2009

Image
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...
Image
                             Paris Jackson Hit With News That Prince Isn’t Her “Full” Brother There have been rumors for years about the biological parents of Micheal Jackson’s children. Sources reveal that Paris’ recent suicide attempt happened days after she learned she and her older brother, Prince, do not share the same biological father. The 15-year-old had previously been convinced that she was Prince’s full” sister, believing Debbie Rowe and an unidentified man were their biological parents. A source close to the family said, “Paris has always wanted to believe Micheal was her dad, but was aware that wasn’t really the case. She was convinced her and Prince were full siblings. She always idolized him. Hearing that she wasn’t started a downward spiral.” Paris Jackson was told the news to prepare her for details that were to be releas...
Image
                  Michael Jackson’s Ghost Testifies At Trial According The NY Post Jurors at the Jacko trial heard testimony from a surprise witness yesterday — the ghost of Michael Jackson! Randy Phillips, CEO of concert promoter AEG Live, testified about a chat he had with his longtime friend Brenda Richie, who claimed to have talked to a medium who had channeled the spirit of The Gloved One after his 2009 death. In the supernatural tête-á-tête, Jacko’s ghost allegedly absolved Dr. Conrad Murray of any guilt in his death and admitted he “accidentally killed himself,” Phillips said. “Brenda called me to tell me that she was in communications with Michael either through a medium or directly,” Phillips told jurors about his talk with Richie, the ex-wife of singer Lionel Richie. “She said Michael told her that it wasn’t Dr. Murray’s fault, that he had accidentally killed himself.” Brian Pa...