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Pop Icon Prince’s Estate Reaches Valuation Settlement With IRS

Dec. 6, 2021, 4:38 PM

The estate of the music star Prince has settled with the IRS in its valuation tax battle.

The settlement still needs to be approved at the state level, in a Minnesota probate court, according to a Nov. 30 U.S. Tax Court order by Judge Mark V. Holmes. The Tax Court trial set for March 2022 has been struck from the calendar, and a further status report from both parties will be due in February.

The estate has been embroiled in a dispute with the IRS over the worth of music rights following the ...