• July 21, 2024

Beyoncé denies owing $2.7 million in taxes and penalties 2023

Beyoncé has filed a petition disputing the US federal tax office’s claim that she owes $2.7 million in delinquent taxes and penalties.

Several errors were allegedly made in determining the singer’s 2018 and 2019 tax returns, according to the filing.

Beyoncé owes $805,850 (£640,811.92) in additional tax for 2018 in addition to $161,170 (£128,162.38) in penalties, according to a petition addressed to the Internal Revenue Service (IRS) and seen by Forbes. She allegedly owes an additional $1,442,747 (£912,311.02) in 2019 in addition to $288,549.40 (£229454.48) in penalties.

Beyoncé has argued that the IRS disregarded millions of dollars in charitable contributions she made during those two years, including a 2018 donation of $868,766 (£690,842.72) to an unnamed charity. The petition requests that any tax penalties she incurs be waived on the grounds that she “has acted reasonably and in good faith.”

The petition also claimed that the IRS disallowed some of Beyoncé’s 2018 and 2019 business deductions for utilities, insurance, management fees, legal services, and professional services.

The petition was filed solely in Beyoncé’s name, and her spouse Jay-Z is not mentioned.

Michael C. Cohen, her attorney, told Page Six, “We are collaborating with the IRS and anticipate a resolution in the near future.”

Beyoncé reportedly ended her creative partnership with Adidas last month due to “major creative differences” between her clothing line, Ivy Park, and the activewear behemoth Adidas. In 2016, the songstress debuted Ivy Park, a collaboration with Sir Philip Green of Topshop.

Later this year, she will embark on her upcoming ‘Renaissance’ global tour, which will begin in Europe during the month of May and then make its way to North America.

Beyoncé has recently made Grammys history by becoming the artist with the most awards. The star surpassed the record of 31 Grammys held by classical musician Georg Solti when she won the award for Best Dance/Electronic Music Album for ‘Renaissance’, bringing her total to 32.

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