Pop Star Rihanna Faces an IRS Audit

IRS Audit
IRS Audit

According to reports by the Associated Press, Rihanna is facing some legal drama. This time it is with allegedly unscrupulous accountants, who she is blaming for tens of millions of dollars in losses, poor business advice, and an IRS audit.

IRS Audit

The pop star is seeking unspecified damages in federal court from New York-based accounting firm, Berdon LLP, and two accountants. She alleges that from her 2009 tour, which suffered net losses despite strong revenue, the accountants took 22 percent of the total revenue, while Rihanna only received 6 percent.

The lawsuit also alleges that the accountants repeatedly breached contracts, misguided the singer financially, failed to properly document revenue and expenses, and created entities without her permission.

Unfortunately, according to the singer’s lawsuit, Rihanna lost a great deal of money and is now under the microscope of the IRS because of the unethical decisions of her accountants. To make sure that this does not happen to you, please contact your competent tax professionals.

 

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