Pay Up! Whitney Houston’s Estate Reaches $2 Million Settlement In Battle With IRS
A far cry from the $11 million it was originally ordered to dish out.
Jan. 4 2018, Published 4:55 p.m. ET
Whitney Houston’s estate will pay the IRS over $2 million in owed taxes — a far cry from the $11 million it was originally ordered to pay.
After the singer passed away in 2012, the IRS determined her estate had “underreported the singer’s royalties, residuals and value of her image by $22.6 million,” according to court documents.
The IRS argued they were owed $11 million.
Houston’s estate disputed the amount, and claimed in its value determination the hitmaker was worth $11.7 million.
According to just unearthed court documents, the estate and IRS reached an agreement in late December to pay off only $2,275,366, and will avoid a trial that was scheduled to begin next month.
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