Mathew Knowles Tax Problem
Ouch. That's gotta sting. Beyonce's father and former manager Mathew Knowles has been hit with a whopping tax bill.
Uncle Sam wants King Bey's onetime "dadager" to cough up what he owes, an amount that totals over $1 million in debts.
TMZ reports that the IRS filed a lien against Knowles. He owes $485,575.95 from 2010, and $728,004.89 from 2011, the latter of which is the last year he managed his baby girl. Add 'em up and you get $1,213,580.84. That's a lot of paper and can't be a fun check to write when all is said and done.
It's gotta suck to be slapped witch such a steep tax bill -- just ask Lauryn Hill. However, to put it in perspective, it's worth nothing that in order to rack up that high of a tax debt, you need to be raking in buckets of cash. So we can't feel too sorry for Papa Knowles and whatever accountant got him into this mess, since he's pretty well off if he owes that much.
Mr. Knowles managed his famous daughter, who grosses tons of scratch from touring, album sales and her various endorsements, for years before parting ways professionally. He also managed other acts and was involved in other projects, including his own label, so he made a pretty penny. And Uncle Sam wants his cut, which makes Papa Knowles no different than the rest of us.