She’s contesting her $2.7 million tax liability.
reports. Though she and her husband are worth over a billion dollars combined, allegedly getting overcharged $2.7 million is enough to file a petition. The IRS calculated that Queen Bey owes an additional $805,850 in taxes and $161,170 in penalties for the 2018 taxable year and $1,442,747 in additional taxes and $288,549 in penalties for 2019.
Beyoncé alleges the IRS did her dirty by disallowing millions of dollars in deductions for things like professional services, legal fees, and insurance, among other expenses, including $868,766 attributable to charitable contributions. She also argues that if any tax is, in fact, due when all is said and done, the penalties should fall off because the singer “acted reasonably and in good faith.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Owner of Fremont business tried to hide more than $4 million from IRSThe guilty plea came from the owner of the Fremont-based QXQ, Inc.
Read more »
WATCH LIVE: House Ways and Means Committee holds hearing with IRS Commissioner Daniel WerfelThe House Ways and Means Committee is holding an accountability hearing with Internal Revenue Service Commissioner Daniel Werfel.
Read more »
Kraken asks San Francisco court to intervene against IRS demandsKraken joined Coinbase in its efforts to push back against growing regulatory scrutiny by American regulators. Coinbase is fighting its own battle against the SEC over offering crypto-staking services.
Read more »
New IRS chief promises ‘several years’ before most Americans face higher audit ratesNew IRS Commissioner Danny Werfel told Congress on Thursday that taxpayers with incomes under $400,000 won’t have to worry about an increase in their rate of audits for “several years,” saying that for now, he’s pouring all of his new audit money into high-income filers.
Read more »
IRS plans to hire gun-carrying special agents in all 50 statesThe Internal Revenue Service's Criminal Investigation division is hiring special agents who carry guns and make arrests, with jobs available at locations in all 50 states.
Read more »
Increasingly armed IRS and other agencies should worry us allThe IRS and other federal agencies continue to militarize at a furious and dangerous pace. Reasonable elected officials would act to demilitarize those agencies forthwith.
Read more »