Beyonce took action in an attempt to resolve a dispute with the Internal Revenue Service.
She contested the taxes and penalties imposed on her for over two and a half million dollars with a petition to the US Tax Court, per ClutchPoints.
The Internal Revenue Service (IRS) has revealed documents showing that they are asking Beyonce to pay $805k more taxes due for 2018, plus an additional $161k worth of penalties.
Furthermore, the agency alleged a total owed of $1,442,747 for 2019's taxes and other fines totaling $288k. However, Beyonce's legal representatives have argued back with claims that the IRS is making mistakes by not allowing millions' worth of deductions.
Recently, much speculation has arisen regarding the filing of a tax case by Beyoncé.
Court documents reveal that the celebrated artist and entrepreneur requested to have the trial take place in California; however, there has been no word from the IRS on their response as yet.
This follows her decision to discontinue her collaboration with Adidas for her clothing line Ivy Park. Despite projections of reaching $250 million in sales, last year's earnings amounted to just $40 million.
At the same time, it was revealed that Beyoncé's annual compensation was a whopping $20 million; news also spread that she and Adidas had experienced disagreements about creative control.
In response, shortly afterward, the renowned singer unveiled her newest haute couture collection in partnership with French design house Balmain.
In an Instagram post, the "Single Ladies" singer said, "Thank you Olivier Rousteing (Balmain's Creative Director) and Balmain for bringing RENAISSANCE to life in couture."
"Designing alongside you was freeing-thank you for allowing me to celebrate the human form, to take artistic risks, to push boundaries and to freely express myself."
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It appears fans of Beyoncé, who make up her dedicated BeyHive isn't too thrilled with her clothing brand, Ivy Park.
A report released by the Wall Street Journal in February revealed sales for her activewear line took a 50 percent nosedive in 2022. Even though it's a collaboration with Adidas, consumers aren't interested in purchasing items from this line.
Despite Ivy Park's expansive selection of gender-neutral styles and sizing, consumers have not been quick to splurge on the label's latest items.
In fact, documents show that approximately half of all merchandise released over the past six drops failed to find a buyer, never making it off store shelves.
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