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IRS Concludes That Prince’s Estate Was Officially Worth More Than $156 Million At The Time Of His Death

For comparison, the estate was assessed by the IRS in 2020 and valued at $162.3 million, but the bank only put a $82.3 million value on it.

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It goes without saying that the late singer, songwriter, and multi-instrumentalist Prince’s estate is very expensive. But exactly what was the value of the precise value of everything held by the estate had, until very recently, been a matter of dispute.

IRS officials disagreed.

BERTRAND GUAY/AFP via Getty Images

Getty Images BERTRAND GUAY/AFP

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    In January 2021, the Internal Revenue Service claimed Prince’s estate was drastically undervalued. Prince’s estate was actually valued more like $163.2 million, according to IRS estimations.

    Six months later the IRS served his estate with a notice of delinquency seeking an additional $32.4 million in federal taxes dating to the 2016 tax year plus an additional $6.4 million “accuracy related penalty”. Prince’s estate and Comerica both asked for a trial to resolve the conflict.

    Who Inherited Prince’s Estate?

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