Celebrity Tax Tuesday - Beyonce's Dad Hit With Tax Bill
Being the father of one of the most recognizable celebrities in the past 20 years doesn't always pay off. Literally.
Beyonce's father Mathew Knowles has been ordered to pay $220,000 to IRS authorities to settle unpaid taxes.
The businessman, who has recently been touring to promote his new "Beyonce Bootcamp" seminars, was sent the bill by officials at the IRS for failing to pay his taxes for 2013, according to TMZ.com.
What's even worse is he has a history of failing to pay his taxes. As of 2013, the IRS was after him for owing over $1.2 million. With the added sum of this recent report, the grand total has now been upped to $1.4 million. Ouch.
Apparently he had hired a tax resolution service to solve his financial problems, but Knowles allegedly failed to pay their fees in full and was subsequently hit with a lawsuit in September, 2015. He should have called Wolf Tax from the get-go.
So how did Knowles’ money problems get so bad? Knowles quit his job as an equipment salesman to be Destiny’s Child and Beyoncé’s manager. He owned one-fourth of Destiny's Child. But by 2011, Beyonce fired her dad as her manager. Ouch!
Matthew Knowles' reputation, let alone his net worth, continues to get worse. He’s been accused of stealing from Beyoncé and was actually seen selling Beyoncé’s old merchandise at a garage sale.
Perhaps Papa Knowles really should take a break from the seminars and take a course on financial literacy? Just sayin.
Even if you're six degrees of separation from Kevin Bacon, when you have a tax issue, there's only one thing you need at your side... a Wolf!