Pop star Beyoncé has filed a petition in the US tax court to challenge a $2.7 million tax liability assessed by the Internal Revenue Service (IRS) for the years 2018 and 2019. The dispute claims that the IRS was mistaken in disallowing millions of dollars in deductions for insurance, management fees, legal and professional services, utilities, taxes, and depreciation, including over $850,000 in charity contributions in 2018.
Beyoncé is one of the most successful recording artists of all time, with a net worth of around half a billion dollars. Her rapper husband, Jay-Z, also has stakes in a number of successful business ventures, which are worth an estimated $2.5 billion.
The petition to re-evaluate the singer’s tax liability was brought about by the Notice of Deficiency. Taxpayers within the US have three months from the date of the notice to file a petition to challenge the original assessment.
According to Forbes, a case will be scheduled for trial as soon as possible, though most are settled without going to trial.
Beyoncé is no stranger to legal disputes, having previously been involved in trademark infringement and copyright infringement cases. However, this is the first time the pop star has filed a petition in the US tax court. It remains to be seen how the court will rule in this matter.
