Jackson Estate Challenges IRS
The estate of Michael Jackson, in the midst of a lengthy dispute over the IRS’ valuation of the deceased King of Pop’s name and likeness, is seeking to invalidate the testimony of a key witness based on comments made about his work in the IRS’ assessment of Whitney Houston’s estate.
Kevin Mazur, AEG/Getty Images, file/AP – Michael Jackson
Rehearsing at the Staples Center in Los Angeles.
Valuation expert Weston Anton is a key witness in the IRS’ valuation of the Jackson name and likeness at $161 million.
That number is a sharp contrast from the $2,105 the Jacko estate claims the artist’s name was worth after child abuse allegations and public image hits damaged his reputation.
Anton prepared a report on the value of the intangible property rights held by Whitney Houston’s estate in 2015 and lied about it while on the stand, estate lawyers are claiming.
When confronted about the lie by lawyers, he admitted his answers were not truthful, the NY Daily News reports. Anton reportedly attempted to conceal his relationship to the Houston case because he understood from his lawyer that revealing anything about IRS tax affairs could result in a felony.
Jackson estate lawyers now claim that the perjury ruins Anton’s credibility and show that he was trying to “hide the fact he had been awarded multiple contracts from the IRS for substantial sums of money,” the paper reports.
The trial, also dealing with the value of some of Jackson’s other assets and whether he owed more taxes at the time of his death, concluded in February, though it may be months if not a year until a decision is reached, the paper reported.