Beyoncé Expected To Pay IRS $2.7M In Taxes After Filing Petition Contesting Bill
Beyoncé will soon be expected to pay the IRS $2.7 million, according to reports.
The global superstar previously claimed that the institution unfairly charged her with additional taxes and penalties. However, the Internal Revenue Service has shot back, stating that their financial evaluation is accurate, according to documents obtained by RadarOnline.
In fact, she owes $2.7 million, plus interest on the tax bill. The agency is also denying any wrongdoing on their behalf. The financial institution also stated that the government “generally denied each and every allegation in [Beyoncé’s] petition.” A lawyer for the IRS is demanding that the singer’s petition be rejected, and the initial financial documentation stand.
In May 2023, the Renaissance singer disputed the agency’s Notice of Deficiency. The legal doc ordered her to cough up $1,442,747 in back taxes, plus a $288,549.40 penalty charge for 2019. According to Forbes, those penalties are 20% of the amount of the underpayment of tax and are required by statute.
Queen Bey claimed that the bureau sought an inaccurate tax fee of $805,850 in taxes and $161,170 in penalty charges for 2018. Yet, Bey argued in her petition that if she owes any taxes, the penalties should not apply because she “has acted reasonably and in good faith.”
Bey also claimed that the agency didn’t allow her to claim “millions of dollars’ worth in deductions.” Beyoncé alleged that the IRS denied her from deducting $473K worth of legal fees, plus $868K worth of charity donations.
“We are working with the IRS and anticipate that the matter will be resolved shortly,” her lawyer, Michael C. Cohen, said to Page Six at the time.
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