The estate's final valuation was much closer to the IRS's number in the end.
and everything in his orbit at the time of his death is worth a pretty -- at least according to Uncle Sam, who's finally settled on a price tag ... and it's in the 9 digits.
The IRS has come to terms with the administrator of Prince's estate, Comerica Bank & Trust, after years of fighting about what exactly the late artist's pot of assets should be valued at ... and the figure they all landed at stands at $156.4 million -- per theThis number is one that Prince's heirs -- surviving siblings and/or their families -- have also agreed to, BTW ... and not just that, but the Minnesota Dept. of Revenue also signed off.
Of course, $156M is helluva lot more than what Comerica had initially estimated the estate to be worth ... just $82.3 million, which the IRS pushed back on with ferocity in court -- as they argued it oughta be priced north of $160 mil, a figure that would've made taxes due back to them upon distribution balloon into the tens of millions.
In the end ... it appears the IRS was more right than wrong on their numbers, at least on the face of things. And, indeed, the taxes the estate has to pay out will be significant.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Key IRS tax deadlines that Americans need to knowThe Internal Revenue Service will kick off the 2022 tax season this month, although it's already warning taxpayers to brace for delays as the agency wrestles with a massive pileup of unprocessed returns accrued during the pandemic.
Lire la suite »
IRS to commence tax season early, warns of potential hiccups due to pandemic and funding issuesTax season will begin early this year and is already forecast to be an especially 'frustrating' one, the Internal Revenue Service has warned, as pandemic-era tax changes and staffing limitations squeeze the nation's tax agency.
Lire la suite »
IRS urges Americans to file taxes online to avoid refund delaysThe IRS is urging Americans to file their 2021 tax returns online and as soon as possible to avoid delays in processing and receiving refunds. investinyou (In partnership with acorns.)
Lire la suite »
The IRS will ask every taxpayer about crypto transactions this tax season — here's how to report themThe IRS will ask every taxpayer about crypto transactions this tax season — here’s how to report them
Lire la suite »
Prince estate value set at $156.4M years after his deathA long legal fight over the value of Prince's estate has come to a conclusion.
Lire la suite »
Prince's estate valued at $156.4 million after six-year legal tussleThe estate will be almost evenly divided between a well-funded New York music company — Primary Wave — and the three oldest of the music icon’s six heirs or their families.
Lire la suite »