Prince died in April 2016. At the time of his death he did not have a Will.
Comerica Bank & Trust, the estate’s administrator valued Prince’s estate at $82.3 million.
The IRS says the estate is undervalued and has stated the value at $163.2 million.
The IRS believes the estate owes $32.4 million in federal taxes.
The IRS has also ordered a $6.4 million accuracy related penalty..
Comerica Bank & Trust has requested a trial in St. Paul, Minnesota.
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IRS Claims Prince’s Estate Is Worth More Than What Administrators Claim
The IRS says the estate is undervalued and has stated the value at $163.2 million.
