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A portion of the protracted legal battle about Prince's estate will finally be put to rest.

A Practical Reason To Oppose Wealth Taxation  Share   Share Trending As an economist, I strongly oppose the wealth tax (as well as other forms of double taxation) because it’s foolish to impose additional layers of tax that penalize saving and investment. Especially since there’s such a strong relationship between investment and worker compensation. The politicians may tell us they’re going to “soak the rich,” but the rest of us wind up getting wet. That being said, there are also administrative reasons why wealth taxation is a fool’s game. One of them, which I mentioned a...

The Tax Court’s decision may have further implications for valuing a celebrity’s name and likeness rights.

Michael Jackson’s Estate Is Winner in Tax Judge’s Ruling The decision on the value of Mr. Jackson’s name and likeness will significantly lower his estate’s tax burden from the government’s 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...