Beyoncé Knowles-Carter may be busy with her mega-successful Renaissance World Tour, but on another front she’s also battling the IRS.
She’s currently embroiled in a legal back-and-forth with the IRS over an whopping $2.7 million tax bill. In April, Beyoncé disputed the debt and filed a petition in tax court to have the debt erased, Forbes reported.
The IRS is reportedly opposing Beyoncé’s attempt to pay, requesting the U.S. Tax Court to deny her petition filed on April 17, according to court documents obtained by RadarOnline. The outlet is reporting that the IRS denied each and every allegation in Beyoncé’s petition and said she still owes the government $2.7 million.
At press time, RadarOnline was the sole media outlet that reported it had proof of the IRS pushback.
But here is what we know.
Uncle Sam Wants to be Paid
The IRS had notified the singer, who has a net worth of $540 million, on January 18, 2023, of her tax debt. She received a Notice of Deficiency, claiming she had improperly paid her taxes for two tax returns. The amount includes $805,850 in taxes and $161,170 in penalties for the year 2018. Add to this, $1,442,747 in taxes and $288,549.40 in penalties for 2019. The IRS intends to add interest to the debt until it is fully settled.
Beyoncé’s Side
In her petition, Beyoncé argued that the IRS’s calculations were incorrect. She claimed the government failed to acknowledge millions of dollars worth of deductions. She also argued that the IRS should not impose penalties amounting to 20 percent of the underpayment of tax, because as she filed her taxes reasonably and in good faith, as Finurah previously reported.
Beyoncé filed her taxes separately from her husband Jay-Z.
Regardless of the outcome, with her tour having already earned $154 million just from the European leg and Investopedia projected the tour could generate more than $2 billion by the time it ends on Oct 1.
Beyonce, formerly a member of the group Destiny’s Child, debuted her first solo album, “Dangerously in Love,” in 2003. Today, she is the most-winning artist in the history of the Grammys with 32 awards to her name.
