20 Apr 2017 01:02 PM EST
-by Laura Tucker, Staff Writer; Image: Michael Jackson (Image Source: Keir Whitaker via Wikimedia Commons)
The estate of Michael Jackson and the Internal Revenue Service are continuing to battle it out with each other.
They've been fighting over Jackson's taxes from 2009. What has been in dispute is how much worth was in the King of Pop's name and image at that time.
The trial in this matter ended last February. Along with how much the estate may owe in back taxes, what has also been part of this battle is Jackson's holdings in the Sony-ATV and MIJAC music catalogs.
The IRS is claiming that the administrators of Jackson's estate undervalued what he was worth as far as his publicity rights. They feel it was undervalued by millions of dollars.
But now the estate is coming back and asking for the testimony by Weston Anson, the primary valuation expert for the IRS, to be excluded. They are claiming that he committed perjury which hurt "his credibility, reliability, neutrality, and objectivity."
While previously Jackson's name and image was said to be worth just $2,105, Anson figures he was much more, $161 million, to be exact. But this isn't the only time he has been called in to establish the worth of an iconic singer. He also did so for Whitney Houston.
During the trial between the IRS and Jackson's estate, attorney Howard Weitzman cross-examined Anson and asked him about the Houston case. The IRS had said at that time that her estate had undervalued her publicity rights by $11.5 million.
But Anson testified they hadn't started working on the Houston case. He also claimed to have not written a valuation of her at that point.
However, he and CONSOR Intellectual Asset Management did prepare and submit a report. It included the date June 8, 2015, and had the title, "Analysis of the Fair Market Value of the Intangible Property Rights Held by the Estate of Whitney E. Houston as of February 11, 2012, for Estate Tax Purposes."
To go along with that, CONSOR had a contract in 2009 for $169,168 to be an expert in the valuation of intangibles. Since 2014 they have been awarded $2.64 million. Yet Anson said he had "no idea" what impact the Michael Jackson tax case would have on him, particularly if the IRS won the case.
"The context in which the lies began reveals Mr. Anson's true intent in lying under oath was to disguise his bias in favor of the IRS and to hide the fact he had been awarded multiple contracts from the IRS for substantial sums of money," Jackson's estate wrote in a motion requesting to have Anson's testimony stricken.
But the IRS is insisting that the queries of Anson were asked improperly, and since they included information about another taxpayer other than Jackson, Anson's answers included "confidential" information. They would also like to strike certain sections of the transcript because of that.
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