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IRS Knocks Whitney Houston's $11M Tax Bill Down To $2.3M

Law360, New York (January 2, 2018, 6:20 PM EST) -- The estate of the late singer Whitney Houston owes the Internal Revenue Service just $2.28 million, plus interest, out of an earlier $11 million tax bill that the agency had lobbed in a dispute over allegedly overvalued record royalties, publicity rights and other intellectual property.

According to a Dec. 26 decision in the U.S. Tax Court, the parties agreed on the revised estate tax due, with terms stipulating that the deceased singer’s estate will not be liable for penalties and that it will not claim deductions...
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