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You could buy a fleet of little red Corvettes and lots of Raspberry Berets with the money from Prince’s estate, if the IRS is to be believed.
The Internal Revenue Service insists the singer’s estate is worth $ 163.2 million and accuses directors of undervaluing his assets by $ 80 million, according to a report.
The singer died in his Minnesota home in April 2016. He was 57 years old and left no will.
Comerica Bank & Trust, which oversees the estate, put its value at $ 82.3 million, but the IRS said in a Federal Tax Court document that the “Purple Rain” singer’s estate is so much bigger that he still owes them $ 32.4 million in taxes, according to the Star Tribune.
The dispute led Comerica to seek a tax court lawsuit, which could delay the estate battle for years and generate legal fees to further drain the estate.
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