Why Beyoncé Is Fighting A $2.7 Million Tax Bill
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etcanada.comEarlier this month, Beyoncé filed a petition in the United States Tax Court contesting nearly $2.7 million in tax and penalties.
The document asks the court to reconsider additional tax and penalties assessed by the IRS in a Notice of Deficiency given on Jan.
18, 2023. According to the notice, Beyoncé owes $805,850 in additional tax and $161,170 in penalty for 2018. It also states she owes $1,442,747 in additional tax and $288,549.40 in penalty for 2019.
There is also interest due on those amounts. Beyoncé argues in her petition that this was an error on the IRS’ part, and claims they refused millions of dollars’ worth of deductions, including $868,766 attributable to a charitable contribution carryover reported in 2018.
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