Beyonce’s battle against the IRS continues after the tax agency ordered her to pay up nearly $3 million in back taxes and penalties. However, according to Radar Online, Beyonce’s putting up a fight until a federal court has the last say. The IRS reportedly stated that they made “no errors” when they first assessed Bey’s taxes, standing by the sum of $2.7 million they believe the singer owes them. Still, Beyonce plans to push back on the ruling. Until the federal court makes its decision, Bey won’t have to pay a cent.
The IRS broke down the figures in their summary which includes $967,020 from 2018 ($805,850 in taxes and another $161,170 in penalties). From 2019, the IRS demands that she cough up $1,731,296.40 (from taxes amounting to $1,442,747 and $288,549.40 in penalties). Moreover, Beyonce said that they pledged to add compounded taxes until she clears her debt entirely with the IRS. However, she said that she shouldn’t have to pay penalties due to the fact that she “acted reasonably and in good faith.”
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Beyonce Calls Out The IRS
Still, Beyonce’s beef with the IRS stems from claims that they miscalculated her taxes entirely. Bey first filed a petition against the IRS in April. When she brought the matter to a U.S. Tax court, she explained that there were a number of inaccuracies in the IRS’s bill. She said that they didn’t allow her to claim a few million worth of deductions, including “depreciation of $3,326,103 reported” from her 2019 taxes. Meanwhile, the IRS said it denied “generally each and every allegations in the petition.”
Regardless of the outcome, Beyonce will still be fine financially. In the past few months, her Renaissance World Tour has proved to be a fruitful endeavor. Billboard estimated that it could even bring in upwards of $500M by the end of the year. We will continue to keep you posted on any more details surrounding Beyonce’s battle against the IRS.
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