In a three-year-long dispute between the IRS and Michael Jackson's estate, the beneficiaries of the late King of Pop's trust, including his children and his mother Katherine Jackson, have yet to receive any money. According to Entertainment Tonight, the rejection of a bid to release funds by estate co-executors John Branca and John McClain is attributed to the ongoing audit by the IRS.

The IRS issued a note of deficiency in 2021, claiming that the Jackson estate had undervalued its assets and owed an additional $700 million in taxes and penalties. Since then, the estate and the IRS have been engaged in legal battles and negotiations, further complicated by conflicts between Katherine Jackson, aged 93, and Michael's youngest son, Bigi "Blanket" Jackson.

In an attempt to prevent the $600 million sale of Jackson's music assets to Sony, Katherine Jackson sought to use estate funds to cover her legal fees. However, Bigi sued his own grandmother in March, aligning himself with the estate's executors, and a judge ruled in favor of the estate, allowing the sale to proceed.

Katherine's lawyer, Adam Pines, argued in March that the estate was trying to punish her for challenging their actions. He suggested that the executors were waiting for Katherine to pass away. The estate's decision to withhold payments to the beneficiaries is likely to continue until the sale is completed and the estate's true value is determined, which the IRS is awaiting to submit a final tax bill, as reported by Entertainment Weekly.

In response to the reports, a spokesperson for the Jackson estate provided a statement to Rolling Stone, refuting the claims made. The estate maintained that it has been providing substantial support to Michael's mother and children, and that the beneficiaries' needs are taken care of in accordance with Michael's wishes.

As the audit drags on, the beneficiaries of Michael Jackson's trust remain in wait, with the distribution of funds delayed. The resolution of the ongoing IRS audit is crucial in determining the estate's value, bringing closer the possibility of the beneficiaries finally receiving their rightful share.