The Queen Bey’s tussle with the Internal Revenue Service continues, as the agency has ordered Beyonce to pay them $2.7 million plus interest in unpaid taxes and penalties.
The IRS wants the superstar to pay $805,850 in taxes and $161,170 in penalties for the year 2018. They also want her to cash out on $1,447,747 in additional taxes and $288,549.40 in penalties for 2019. As if that’s not enough, the agency has promised to add compounded interest on Beyonce’s tax bill until all debts are paid in full.
The superstar contested the IRS’ assessment back in April, filing a redetermination petition and claiming it miscalculated her debt by not allowing millions of dollars of taxes, depreciation, management fees, utilities, and other deductions. More specifically, Beyonce notes that she made donations of more than $865,000 in 2018, and reported all royalties income and deductions as required.
Since the singer is planning to continue to contest the IRS’ ruling, she won’t have to pay up until a federal court makes a final judgement.
