According to court documents obtained by Page Six , Beyoncé filed a lawsuit on April 17, in which she argues that the tax authorities made several errors in their decision regarding her 2018 and 2019 tax returns.
The 41-year-old singer has objected through her lawyer to allow a deduction of $868,766, which was her 2018 charitable donation.
Singer Beyoncé sues the US government .
It's unclear what specific charity this relates to, but the "Cuff It" singer is the founder of the BeyGood Foundation – an organization that has supported education , disaster relief, mental health, and other issues – since 2013.
She has also supported a range of other charities throughout her career.
The lawsuit also alleges that the IRS failed to allow Beyoncé's deductions for business income, utilities, insurance, administrative fees, legal services, and professional services in 2018 and 2019, respectively.
The filing also noted that if the "Crazy in Love" singer owed any underpayments of taxes – which occur when there is a difference between the amount reported to the IRS and the amount they calculated – then no penalty would be applied because the singer "acted reasonably and in good faith."
Beyoncé is challenging the IRS over taxes and penalties they claim she owes.
According to tax evasion information contained in court documents, the IRS claims Beyoncé owed $805,850 in 2018 and $1,442,747 in 2019, plus a combined fine of $449,719 for the two years.
Beyoncé's lawyer, Michael C. Cohen, told Page Six on April 27: "We are working with the IRS and anticipate that the matter will be resolved soon."
Beyoncé, the artist with the most Grammy Awards of all time, is seeking trial in Los Angeles for this lawsuit.
Beyoncé has a reported net worth of $500 million, not including her husband Jay Z's $2.8 billion fortune, making the " music and fashion mogul" one of the richest people in the world.
Beyoncé has a reported net worth of $500 million.
The former Destiny's Child member has been a chart-topping artist for decades and has made a fortune from her singing career, including selling over 200 million records worldwide and selling out numerous arenas and stadiums for her concerts globally.
In 2019, Beyoncé struck a $60 million deal with Netflix for the film Homecoming , based on her standout 2018 performance at Coachella.
The pop superstar also owns the clothing brand Ivy Park, which she first launched with Topshop owner Philip Green in 2016.
Beyoncé's company, Parkwood Entertainment, also acquired full ownership of the streetwear brand in 2018.
Source link
Comment (0)