Music superstar Beyoncé is challenging the US Treasury Department’s Internal Revenue Service (IRS) claim that she owes the government nearly $2.7 million in taxes.
According to Court documents obtained by Page Six, Beyoncé filed the lawsuit on April 17, in which she argued that the tax administration made several errors in their decision on her 2018 tax return and her 2019.
The 41-year-old singer objected through her lawyer that a deduction of $868,766, which was her 2018 charitable contribution, should be allowed.
Singer Beyoncé sued the US government
It’s unclear what charity this involves, but the Cuff It singer has been the founder of the BeyGood Foundation – an organization that supports education, disaster relief, mental health and other issues – since two thousand and thirteen.
She has also supported a variety of other charities throughout her career.
The suit also alleges that the IRS disallowed deductions for Beyoncé’s business income, utilities, insurance, management fees, legal services and professional services in 2018 and 2019, respectively.
The filing also notes if the Crazy in Love singer owes any tax underpayments – which occurs when there’s a difference between the amount reported to the IRS and the number they calculate – then the penalty won’t apply because the singer “acted reasonably and in good faith”.
Beyoncé is challenging the IRS over the taxes and penalties they say she owes
According to tax deficiency information contained in court documents, the IRS claims Beyoncé owes $805,850 in 2018 and $1,442,747 in 2019, plus a combined $449,719 in penalties for the two years.
“We are working with the IRS and anticipate that the matter will be resolved soon,” Beyoncé’s attorney Michael C. Cohen told Page Six on April 27.
Beyoncé, the female artist with the most Grammy awards of all time, is asking for this lawsuit to be heard in Los Angeles.
Beyoncé has a reported net worth of $500 million, not counting husband Jay Z’s $2.8 billion fortune, making the “music and fashion mogul” one of the richest people in the world.
àu nhất thế giới.
Beyoncé has a reported net worth of $500 million
The former Destiny’s Child member was a chart-topping artist for decades and cashed in on her singing career, which included selling more than 200 million records worldwide and selling out arenas. , the stadium for her concerts globally.
In 2019, Beyoncé landed a $60 million deal with Netflix over the film Homecoming based on her standout 2018 performance at Coachella.
The pop superstar also owns clothing brand Ivy Park, which she first launched with Topshop owner Philip Green in 2016.
Beyoncé’s Parkwood Entertainment company also acquired full ownership of the streetwear brand in 2018.
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