WASHINGTON (Reuters) - The summer of pop music legend Michael Jackson kääntäjä is fighting the IRS

WASHINGTON (Reuters) - The summer of pop music legend Michael Jackson kääntäjä is fighting the IRS over taxes and penalties levied on a wide range of the star's assets, including the Neverland Ranch, his "image and likeness" and some recording properties, According to court documents. The summer's challenge, filed in US Tax Court, does not disclose any dollar Amounts, Suggesting the differences in summer kääntäjä and paid taxes allegedly owed could be significant, said tax lawyers who reviewed the court filings on Tuesday. The dispute centers kääntäjä on the value of estate assets at the time of Jackson's death on June 25, 2009. Some assets,: such as the star's image and likeness, are extremely difficult to value for tax purposes. Under tax law, the penalties associated with the IRS's kääntäjä Allegations kääntäjä could be as high as 40 percent of the difference kääntäjä between the taxes paid and Those allegedly owed for some of the items. Though dollar Amounts in the documents are redacted, the IRS's deficiency notice said the tax agency kääntäjä of penalties levied on the value of Sycamore Valley Ranch Company LLC, Which includes the Neverland Ranch, according to Functional the court filings. The IRS issued to the summer in tax deficiency notice in May and the summer ITS challenge filed in Tax Court on July 26. The IRS Has 60 days to reserved respond to the Tax Court challenge. Negotiators for the IRS and the summer have held meetings for more than a year to try to resolve the valuation differences, said Charles Rettig, kääntäjä one of the lawyers representing the Jackson estate. He declined to say how much in taxes and penalties are in dispute. "The government believes's estates of celebrities Likely kääntäjä to have significant potential audit," Rettig said on Tuesday. "The summer believes's the estate tax return properly reflected the interests of Mr. Jackson as of the date of His death." An IRS spokesman declined to comment. Under Tax Court rules, the Jackson estate will not need to pay any taxes or penalties Unless the court rules for the IRS. Jackson died at age 50 from an overdose of the surgical anesthetic propofol while rehearsing for a series of comeback concerts in London. "The Michael Jackson estate was on a clear collision course with the Tax Court," said Bridget Crawford, a tax professor at Pace Law School, who reviewed the Tax Court filings. kääntäjä
WASHINGTON (Reuters) - The estate of pop music legend Michael Jackson arguing the Internal Revenue Service for tax and penalties levied on a wide range of activities of the star, including the Neverland Ranch, his "image and likeness" and some property registration, according to court documents. Challenge of the estate, presented in court US tax, not disclose any dollar amounts, suggesting differences in summer and fees paid presumably due could be significant, said tax lawyers who reviewed the court filing Tuesday. The dispute centered on the value of real estate assets at the time of Jackson's death June 25, 2009. Some activities, such as the star image and likeness, are extremely difficult to value for tax purposes. Under tax law, the penalties associated with allegations of IRS could be as high as 40 percent of the difference between the taxes paid and those presumed to be due to some of the items. If amounts in the documents are drawn up, notice the lack of IRS tax agency said sanctions imposed on the value of Sycamore Valley Ranch Company LLC, which includes the Neverland Ranch, according to the filing of the Court. The IRS issued a tight fiscal kääntäjä deficit noted in May and the estate tax presented his challenge in court July 26. The IRS has 60 days to respond to the challenge posed Court. Negotiators for the IRS and summer have been meeting for over a year to try to resolve differences of assessment, said Charles Rettig, one of the lawyers representing kääntäjä the estate of Jackson. He declined to say how much in taxes and penalties are in dispute. kääntäjä "The government believes estates of celebrities probably kääntäjä have significant control potential," Rettig said Tuesday. "Tenuta believes that the estate tax return reflects adequately the interests of Mr. Jackson kääntäjä from the date of his death." kääntäjä An IRS spokesman declined to comment. According to the tax rules of the Court, the estate of Jackson will not have to pay any taxes or penalties, unless the court rules for the IRS. Jackson died at age 50 from an overdose of the surgical anesthetic kääntäjä propofol during rehearsals for a series of comeback concerts in London. "The estate of Michael Jackson was apparent collision course with the Tax Court," said Bridget Crawford, a professor at the law school of rhythm, f