The trust funds set up for the kids of Michael Jackson - Prince, Paris, and Blanket - may be targeted by the IRS.

Sources, it is said that Jacko left debts behind which could erase the majority of the kids' inheritance.

"On paper the kids are billionaires thanks to these massive sums.

But the truth is those sums will barely be in their accounts for any time as they have this huge tax bill to settle," an insider revealed.

"The IRS had been public about their demand asking for as much as £555 million, with more charges coming for late payments," the source adds.
The kids - Prince, 19, Paris, 17, and Blanket, 14 - were due to get the windfall when they turn 30.

In the meantime, Jackson's famous estate - Neverland Ranch - has failed to garner any interest after hitting the real estate market over nine months ago.