Jonathan R. Wachs
The Internal Revenue Service recently determined that the Estate of Whitney Houston understated the value of the deceased singer’s record royalties, rights of publicity rights and other intellectual property assets by more than 22 million dollars. The IRS then issued to the Estate of Whitney Houston an $11 million tax bill (which includes $3 million in penalties). Ms. Houston’s Estate is challenging this assessment and the dispute is scheduled for a trial February 2017.
Source: The Hollywood Reporter
If you have any questions regarding the content of this communication, please contact Jonathan R. Wachs:
jwachs@offitkurman.com | 301.575.0302.
If you would like to subscribe to receive Friday Factoids® in your inbox click here.
