In a landmark decision, the United States Tax Court sided with the Estate of Michael Jackson in its forceful disagreement with the IRS audit determination regarding the values of Jackson’s likeness/image and music at his date of death.
Using the Income Approach to estate valuation, Jackson’s experts emphasized his tainted reputation, debt-encumbered music assets, and poor cash flow from these assets at the time of his passing and for a few years thereafter.
Here’s the article called “‘Beat It’: Michael Jackson’s Estate Scores Major Win Over IRS” –
