WASHINGTON, Aug 24: The estate of pop music legend Michael Jackson owes 702 million dollars in federal taxes and penalties, the Internal Revenue Service charged in US Tax Court, accusing the estate of undervaluing some of the star’s assets by hundreds of millions of dollars. The dollar amounts in dispute had not been previously disclosed in the court challenge that the Jackson estate filed in July to a bill from the IRS, the US tax-collecting agency. (agencies)
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