The Grammy Award winner, 41, previously expressed her opposition to the tax plan, claiming that the IRS requested an additional $805,850 in taxes and $161,170 in fines for 2018 and $1,442,747 in taxes and $288,549.40 in penalties for 2019.
The IRS Remains Firm in Its Evaluation of Beyoncé's Taxes
Beyoncé claimed that the agency's calculations were flawed and barred her from deducting millions of dollars in expenses in her petition to contest the assessment and request rectification for an apparent error.
Although the assessment's precise location is uncertain, it is assumed to be under the U.S. Tax Court's purview. Beyoncé's allegations have all been refuted by the IRS, which upheld the $2.7 million tax bill.
The government body also rejected claims that Beyoncé's various deductions and charity contributions should have been disallowed. The IRS has asked that the petition be dismissed and the initial assessment be approved.
Beyoncé's net worth is estimated by Forbes to be approximately $500 million, with her Renaissance World Tour alone bringing in $500 million. Beyoncé is not required to pay the $2.7 million tax bill as long as the lawsuit is still pending.
Beyoncé and the IRS are still at odds, and the "Irreplaceable" singer needs to find a method to get beyond this obstacle and come to an agreement with the federal body.