05/13/2013 07:53 am ET Updated Jul 13, 2013

Beyonce's Dad Mathew Knowles Slapped With $1.2 Million Tax Bill

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The Good News: Beyonce's dad, Mathew Knowles, raked in BOATLOADS of cash during the years he managed B's career ... we're talkin' millions.

The Bad News: The IRS says he still owes all sorts of taxes on some of that income -- over $1.2 MILLION.

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