Beyoncé denies allegations that she owes nearly $2.7 million in taxes
In her lawsuit, Beyoncé claimed that the US Internal Revenue Service did not deduct each amount of $868,766. Because this is the amount of money she donated to charity in 2018. It is known that the female singer has participated in supporting many charitable organizations throughout her career. In addition, she is also the founder of the BeyGood Foundation – an organization that supports education, disaster relief, mental health and other issues. However, it is still unclear to which activities the charity money the female singer mentioned is related to.
In addition, the pop star said that the IRS erred in not deducting her business income, utilities, insurance, management fees, legal services and professional services in 2018. and 2019. Beyoncé’s lawyer also stated that the singer always correctly declared her income as well as all of her deductions. Therefore, if there is any underpayment, the fine should not be imposed because the female singer cooperated in good faith.
Beyoncé owns a net worth of up to 500 million USD. The female singer’s huge income mainly comes from music products and performances. Not only does she make a fortune thanks to her massive singing career, the pop superstar also owns the clothing brand Ivy Park, which she first launched with Topshop owner Philip Green in 2016. The singer also will go down in history as the person who owns the most golden Grammy trumpets of all time./.
