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Prince’s Property Owes $32 Million in Taxes as IRS Accuses Executors of Lowballing Value by 50%

Prince’s Property Owes $32 Million in Taxes as IRS Accuses Executors of Lowballing Value by 50%

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The IRS says Prince’s estate owes one other $32.4 million in taxes after executors undervalued the fee of the leisurely guitarist’s estate, essentially based on a account by the Associated Press. In step with documents reviewed by the Star Tribune in Minneapolis on Saturday, The IRS valued Prince’s estate at $163.2 million, roughly 50% better than the $82.3 million valuation submitted by Comerica Bank & Trust, which administrated the estate. The extra $32.4 million roughly doubles the invoice that used to be at first given essentially based on Comerica’s valuation. Prince, who suffered a deadly fentanyl overdose in April 2016, died with out a will, and this latest wrinkle sets up one other settlement dispute that entails conflicts over Prince’s music publishing and recording interes...