Beyoncé Responds to $2.7 Million Tax Bill

Music

Friday, April 28, 2023 13:55 (GMT+7)
13:55 4/28/2023

Beyoncé claims the Internal Revenue Service (IRS) made errors in her 2018 and 2019 tax returns.

Page Six reported that the Crazy in Love singer disagreed with the $2.7 million tax bill issued by the IRS. On April 17, Beyoncé filed a petition with the US Tax Court for flexibility on some of the income.

According to the IRS report, Beyoncé's tax bill includes $805,850 for 2018, $1,442,747 for 2019, and $449,719 in penalties for those years.

Through attorney Michael C. Cohen, Beyoncé seeks to deduct $868,766 in charitable contributions in 2018. The singer is the founder of the BeyGood Foundation, which supportseducation , disaster relief, mental health, and other causes.

The pop star also claims the IRS erred in failing to deduct his business income, utilities, insurance, management fees, legal services and professional services in 2018 and 2019.

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Beyoncé has tax troubles. Photo: USA Today .

The petition notes that if Beyoncé owes any taxes, the penalty should not be imposed because the singer has cooperated in good faith. This comes amid discrepancies between Beyoncé's figures and the IRS's.

According to Page Six , Beyoncé has a net worth of up to 500 million USD . The singer's huge income mainly comes from music products and performances.

The former Destiny's Child member has been a chart-topping artist for decades, with many admirable achievements throughout her singing career. Beyoncé made history as the owner of the most Grammys of all time.

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Nhat Long

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