IRS Claims Prince’s Estate Is Worth More Than What Administrators Claim Prince died in April 2016.
At the time of his death he did not have a Will. Comerica Bank & Trust, the estate’s administrator valued Prince’s estate at $82.3 million. The IRS says the estate is undervalued and has stated the value at $163.2 million. The IRS believes the estate owes $32.4 million in federal taxes. The IRS has also ordered a $6.4 million accuracy related penalty.. Comerica Bank & Trust has requested a trial in St. Paul, Minnesota.