Aretha Franklin’s estate and IRS resolve tax debt
March 26, 2021
“When Aretha Franklin died in 2018, a powerful creditor came calling: The Internal Revenue Service.”
The IRS said that the singer’s estate owed more than $7.8 million in unpaid income taxes, plus interest, plus penalties, from the last seven years of her life. There’s no lack of drama in the Queen of Soul’s estate mess, but the IRS has been the most relentless creditor, as reported in the article “Aretha Franklin estate reaches deal with IRS to pay off claimed $7.8 million tax debt” from the Detroit Free Press.
This is actually a big breakthrough for Franklin’s four sons. The agreement will not only speed up the payment of the remaining tax burden, but it will also give the sons some money from their mother’s fortune. They could not receive any money from the estate, until this part of the IRS negotiations were resolved.
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