Beyoncé’s Dad Faces $1.2 Million Tax Bill

KNOWLES

With rumours sweeping the internet about Beyoncé possibly being pregnant with child number two by hubby Jay-Z, it appears that a news flash of another sort sweeping is the net. This one is about Matthew Knowles her ex-manager dad who owes the tax man $1.2 million

The IRS hit Beyoncé’s dad with the $1.2 million tax bill this week, saying that he owes $485,575.95 from 2010 and $728,004.89 from 2011 for a grand total of, $1,213,580.84.

Matthew 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. Unfortunately Beyoncé ended up giving dad the boot in 2011.

In the Life Is But A Dream documentary, Beyoncé says, “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 said that he was also hurt when their business relationship ended and that, “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.”

Knowles has continued with other projects in the music industry since getting fired as his daughter’s manager. He is currently worth about $50 million, according to Celebrity Net Worth. In a recent interview with Oprah, Beyoncé explained that having her father as a manager was difficult because he didn’t always treat her like an adult.

In the February Oprah interview Beyoncé related that, 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. Then I’d have to do it because I’d look bad [if I didn’t]. We would fight sometimes, and it took about two years, to when I was 20, for him to realize, ‘Oh, she is an adult now, and if she doesn’t wanna do something, I can’t make her do it.'”

The rift between Beyoncé and her father stems from when she decided to sever ties with her father after his affair with “Scrubs” actress Alexsandra Wright.

Although Beyoncé has said she is not estranged from her dad, the affair did end Knowles’s 31-year marriage to Beyoncé’s mother Tina Knowles.

So while it looks like Matthew Knowles now has to pay the piper, or at least the piper’s Uncle Sam; the music mogul has enough money in his coffers to fess up the $1.2 Million tax bill. Daddy may not be on the Forbes Power List, like daughter Beyoncé, but he’s definitely doing well enough to settle his account with the IRS without having to ask her for a loan.

Matthew has not, as yet, been available for comment on his tax bill. But with rumours of his becoming a grandfather again he may, despite the staggering amount of money he owes, be more concerned with whether or not the pregnancy stories are true.

We’re not sure if Beyoncé will be naming her rumoured baby after Poppa Knowles if she is indeed pregnant and the baby is a boy, but you can bet that Momma Knowles won’t think too much of the idea.

By Michael Smith

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