Beyoncé’s dad was hit with a huge tax bill this week.
According to TMZ, Mathew Knowles owes the IRS about $1.2 million. Knowles made most of his money managing his daughter’s career but he apparently forgot to pay the IRS taxes on his income.
The IRS hit Beyonce’s dad with a $1.2 million tax bill this week, saying that he owes $485,575.95 from 2010 and $728,004.89 from 2011. In total, Knowles owes Uncle Sam $1,213,580.84.
Knowles managed his daughter’s career during 2010 and 2011 and helped the singer launch a world tour, a fourth studio album, and a DVD. Beyonce ended up firing her dad in 2011.
Beyonce said in the Life Is But A Dream documentary: “I’m feeling so very empty because of the relationship with my dad. And I’m so fragile at this point and I feel like my soul has been tarnished.”
Mathew Knowles said that he was also hurt when the business relationship ended.
Knowles said:“This was not a normal ending of a business agreement… This was a dad and a daughter and it was incredibly painful and it had some difficulties. But I try to always have a positive mind about things.”
Mathew Knowles made millions managing his daughter’s career but now he’s got “Bills, bills, bills.”
Beyonce and her father may not be working together anymore but maybe the singer, who is frequently on Forbes power list, could loan her dad a few bucks to pay his tax bill.