You could buy a fleet of little red Corvettes and lots of raspberry berets with Prince’s estate money, if you believe the IRS.
The Internal Revenue Service insists the singer’s estate is worth a whopping $ 163.2 million and accuses administrators of undervaluing his assets by $ 80 million, a report said.
The singer died at his home in Minnesota in April 2016. He was 57 and left no will.
Comerica Bank & Trust, which oversees the estate, has set its value at $ 82.3 million, but the IRS has said in the federal tax court document that the “Purple Rain” singer’s legacy is so much greater. is they owe an additional $ 32.4 million in taxes, according to the Star Tribune.
The dispute has resulted in Comerica filing a lawsuit from the tax court, which could drag on the estate battle for years and generate legal fees to empty the estate even more.