IRS Accuses Prince’s Estate Of Undervaluing Worth

You could buy a fleet of little red Corvettes, and plenty of rasberry berets with the money from Prince‘s estate, if the IRS is to be believed.

The Internal Revenue Service insists the singer’s estate is worth a whopping $163.2 million and is accusing administrators of undervaluing his assets by $80 million, according to a report.

The singer died in his Minnesota home in April 2016. He was 57, and left no will.

Comerica Bank & Trust, which oversees the estate, has pegged its value at $82.3 million, but the IRS has said in federal tax court document’s the “Purple Rain” singer’s estate is so much larger, they’re owed another $32.4 million in taxes, according to the Star Tribune.

The dispute has led Comerica to ask the tax court for a trial, which could drag out the estate battle for years and generate legal fees to drain the estate even more.

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