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Michael Jackson owes the tax man millions

Michael Jackson

Michael Jackson

It has been revealed that Michael Jackson’s children’s inheritance will be dramatically shrunk  as the late singer owes the taxman $80 million.

The King of Pop who passed away last month leaving behind children Prince Michael, 12, Paris, 11, and seven-year-old Prince Michael II.

Before any of the children can be given any cash from the star’s album sales, the executors of his will must pay a federal estate tax bill of at least $80 million.

A source told Britain’s Sunday Express that Jackson’s family was prepared for a death tax bill, but had no idea it would be so high.

The source says, “This is a terrible added burden for the family to have to carry at a time like this. There’s no question that it’s going to mean a lot less money going to Michael’s children.”


July 20, 2009 - Posted by | Music |

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