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Why Beyoncé owes the IRS a $2.7M bill

Beyoncé is currently fighting a hefty bill from the IRS.

Beyoncé is currently fighting a hefty bill from the IRS.

Beyoncé is disputing a claim from the Internal Revenue Service that the singer owes $2.7 million in taxes.

The singer reportedly filed a petition to the U.S. Tax Court asking the IRS to reconsider the bill on April 17, which alleges made errors when determining her 2018 and 2019 tax returns.

What Beyoncé is claiming via her attorney

Beyoncé, via her attorney Michael C. Cohen, disputed that a deduction of $868,766, which was listed as a charitable contribution in 2018, should have been allowed rather than excluded by the IRS.

The ‘Lemonade’ singer is a notable supporter of a number of charities. Her own BeyGood Foundation, which she founded in 2013, supports communities on a number of issues, including education in marginalized communities, disaster relief, mental health initiatives, and many other issues.

Beyoncé has supported over 30 charities throughout her career, including the Boys & Girls Clubs of America, Feeding America, Oxfam, and United Way.

Elsewhere in Beyoncé's petition, it is alleged that the IRS also disallowed portions of her business income, including utilities, insurance, management fees, and legal and professional services for the years 2018 and 2019.

What the IRS claims Beyoncé owes

The IRS claims, in their Notice of Deficiency issued on January 18, 2023, that for the year 2018, Beyoncé owes $805,850.00 in taxes and $161,170 in penalties. For the year 2019, she owes $1,442,747.00 and $288,549.40 in penalties. The amounts for both years are also accruing interest.

On Thursday, Cohen said that “We are working with the IRS and anticipate that the matter will be resolved shortly.”

Beyoncé's net worth

Beyoncé has a net worth of $500 million. That, combined with her husband, rapper Jay-Z’s net worth of $2.5 billion, makes them one of the richest couples in the world.

Beyoncé's career in music, including her time in Destiny’s Child, has made her one of the most successful women in music.

The singer has 32 Grammy wins under her belt, including three from her time as a member of Destiny’s Child, and has sold over 200 million records worldwide, selling out arenas and stadiums around the world.


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