Beyoncé challenges IRS claim of $2.7 million in taxes.

Beyoncé is challenging the IRS’s claim that she owes $2.7m in taxes, arguing that errors have been made in the determination of her 2018 and 2019 tax returns. She is disputing the disallowance of various business income deductions, management fees, legal services, and professional services. Beyoncé is seeking a trial to fight the $2.7m payment, and her attorney anticipates that the matter will be resolved shortly.

Beyoncé is challenging the US government’s claim that she owes $2.7 million in taxes, arguing that there are errors in the determination of her 2018 and 2019 tax returns, and is seeking a trial to fight the payment.

Pop superstar Beyoncé is disputing claims by the Internal Revenue Service (IRS) that she owes $2.7 million in taxes. According to documents filed with the US Tax Court, Beyoncé questioned the determination the governing body made on her 2018 and 2019 returns. One of the items that she disputes is an itemized deduction of $868,766, which was a charity contribution in 2018, stating that it should be allowed. While it is not clear what philanthropic cause the deduction pertains to, Beyoncé has been a philanthropist for several years, and she has supported many charities throughout her career.

In addition, the documents alleged that the IRS disallowed portions of Beyoncé’s business income deductions, utilities, insurance, management fees, legal services, and professional services, respectively. The IRS claims that Beyoncé owes $805,850 for 2018 and $1,442,747 for 2019, plus an additional $449,719.40 in combined penalties, according to the Notice of Deficiency. However, Beyoncé’s lawyers argue that she has “acted reasonably and in good faith” and that the penalty should not apply.

Beyoncé’s attorney, Michael C. Cohen, said that they are working with the IRS to resolve the matter and anticipates that it will be settled shortly. The most decorated Grammy-winning artist of all time is seeking a trial for the case in Los Angeles. Beyoncé, who has a reported net worth of $500 million, has been a chart-topping artist for decades and has made money from her singing career, including selling over 200 million records worldwide and selling out multiple arenas and stadiums globally for her concerts.

Aside from her singing career, Beyoncé owns the streetwear brand Ivy Park, which she initially launched in 2016 with Topshop owner Philip Green. However, in 2018, Beyoncé’s company, Parkwood Entertainment, acquired full ownership of the company. In 2019, Beyoncé landed a $60 million deal with Netflix for her special “Homecoming,” which was based on her 2018 headlining performance at Coachella. It is relevant to note that 2018 is a year in question in her US Tax Court petition.

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