Beyoncé's Dad, Matthew Knowles, Owes IRS $1.2 Million In Taxes
Beyoncé's father, Matthew Knowles, reportedly owes millions to the IRS in back taxes.
The government filed a tax lien against the elder Knowles in the amount of $1.2 million, according to TMZ. The IRS claims he did not pay taxes for the years of 2010 and 2011. The debt for 2010 is for $485,575.95 and $728,004.89 in 2011. During this time, Knowles managed Beyonce's career. The IRS now wants the taxes he failed to pay on those lucrative earnings.
Knowles is the founder of Music World Entertainment, a label through Columbia Records. It released albums by Beyoncé, sister Solange Knowles, Sunshine Anderson and others. In March 2011, the superstar fired her father as her manager.
Beyoncé offered a statement as to why she was ending their professional relationship. She called her parents hard working entrepreneurs and said she would continue to walk in their footsteps. However, she felt it was time for her to do assume control of her career.
"I've only parted ways with my father on a business level. He is my father for life, and I love my dad dearly. I am grateful for everything he has taught me," Beyoncé said.
In July 2011, allegations surfaced that Matthew stole money from his eldest daughter. Legal papers claimed that Beyoncé was informed by Live Nation that her father "had stolen money from Beyonce on her most recent tour or otherwise taken funds that [he] was not entitled to." In response, Beyoncé law firm conducted an audit and determined that the accusations had merit.
Matthew denied the accusations of theft and asked a judge to take depositions from Live Nation employees to ascertain how they made their judgments against him.
Beyoncé did not publicly comment on the matter, but she did open up to Oprah Winfrey in February of this year. She appeared on OWN's Next Chapter and spoke out about cutting professional ties with her father. She described it as one of the hardest things that she ever had to be but also said it led to a healing in her life. Beyoncé said it wasn't until she was 20 that her father began to respect her decisions as an adult.
"It took a while for me and my dad to have an understanding. When I turned 18 and started handling my business more, he went into shock. And we had our issues. I'd say 'No' to something, and he'd book it anyway," she said.
Beyoncé has not yet made any statements about this latest financial scrutiny involving her father.
