![IRS Says Executors Undervalued Prince’s Estate by 50%](http://townsquare.media/site/67/files/2018/08/GettyImages-73203077.jpg?w=980&q=75)
IRS Says Executors Undervalued Prince’s Estate by 50%
MINNEAPOLIS (AP) -- The controversy over Prince's estate is heating up again after the Internal Revenue Service said administrators have undervalued it by 50%, or about $80 million.
The rock star, who died of a fentanyl overdose in 2016, did not leave a will. The IRS determined that Prince’s estate is worth $163.2 million, overshadowing the $82.3 million valuation submitted by Comerica Bank & Trust, the estate’s administrator.
Reports say the discrepancy primarily involves Prince’s music publishing and recording interests.
Court documents show the IRS believes that Prince’s estate owes another $32.4 million in federal taxes, roughly doubling the tax bill based on Comerica’s valuation.
![AM 1240 WJON logo](https://townsquare.media/site/67/files/2021/11/attachment-wjonam-alexacard-big.jpg?w=100)
Enter your number to get our free mobile app
6 Vintage St. Cloud Items for Sale on Etsy
More From AM 1240 WJON
![Shooting Death Marks First Homicide of Year in Minneapolis](http://townsquare.media/site/67/files/2019/01/Police.jpg?w=980&q=75)
![Baby Taken From Mother in Stolen Car Found Safe](http://townsquare.media/site/67/files/2019/12/Police-lights.jpg?w=980&q=75)
![St. Paul Teachers, Schools Enter Talks For New Contact](http://townsquare.media/site/241/files/2021/02/shutterstock_1746069446-scaled-e1598542685915.jpg?w=980&q=75)
![Crews Douse Fire at Federal Reserve Loading Dock](http://townsquare.media/site/67/files/2020/05/Fire1.jpg?w=980&q=75)
![St. Paul Man Dies Seven Days After Reporting Assault](http://townsquare.media/site/67/files/2019/02/Crime-tape.jpg?w=980&q=75)
![St. Anthony Police Investigating Man Found Dead as Homicide](http://townsquare.media/site/67/files/2019/02/Crime-tape.jpg?w=980&q=75)
![Minneapolis School Bus Drivers Say They’re Ready to Strike](http://townsquare.media/site/65/files/2021/09/attachment-maxim-lopez-bqfkKohIFYw-unsplash.jpg?w=980&q=75)
![Hennepin Medical Examiner Seeking to Identify Woman’s Body](http://townsquare.media/site/67/files/2021/09/attachment-GettyImages-1220495008.jpg?w=980&q=75)
![Minnesota Governor Tim Walz Departs for European Trade Mission](http://townsquare.media/site/67/files/2021/05/Tim-Walz1.jpg?w=980&q=75)