Michael Jacksonâs Estate Is Winner in Tax Judgeâs Ruling The decision on the value of Mr. Jacksonâs name and likeness will significantly lower his estateâs tax burden from the governmentâs first assessment. Michael Jackson in 1984. The I.R.S. believed his estate had underpaid its tax obligation by just under $500 million.Credit...Doug Pizac/Associated Press May 3, 2021 After Michael Jackson died in 2009, at age 50, the executors of his estate began shoring up the shaky finances of the onetime King of Pop, settling debts and striking new entertainment and merchandising...