Beyoncé Knowles-Carter and the IRS submitted a proposed decision that she owed $709 in income taxes and penalties for 2018, and none for 2019, following her lawsuit last year over a multimillion-dollar deficiency notice.
The popular music superstar petitioned the US Tax Court in April 2023 to redetermine more than $2.25 million in combined deficiencies and $449,700 in penalties for the at-issue years. She claimed the IRS had improperly disallowed her deductions for legal and professional services, a charitable contribution carryover, and other itemized amounts, which the agency denied.
Knowles-Carter made Grammy history last month as the most nominated artist ...
Learn more about Bloomberg Tax or Log In to keep reading:
Learn About Bloomberg Tax
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools.