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Mathew Knowles (pictured), the Father of pop icon Beyoncé, has reportedly been hit with a whopping $1.2 million-plus tax bill, according to TMZ.

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According to the feds, Knowles, who wears numerous hats as a music executive, television producer, entrepreneur, record producer, and recording artist manager, owes money for the tax years 2010 ($484,575.95) and 2011 ($728,004.89).

But with the millions he’s raked in, in the music business, Knowles shouldn’t have trouble satisfying the bills.

The star-maker, who once handled the career of his mega-celebrity daughter Beyoncé, reportedly made millions from his daughter’s booming career. In 1992, Knowles also founded World Music Entertainment, which is one of the world’s leading music and entertainment conglomerates with record sales exceeding $300-million worldwide.

Its worldwide platforms include record label ventures, management services for recording artists and producers, artist development services, endorsement and partnership deals, performance and event facilities, a master catalog series, film and television ventures, licensed merchandise products, and investment and property holdings.

Under World Music, Knowles also created several record imprints and artists, such as Beyoncé and other daughter and singer Solange Knowles, gospel group Trin-i-tee 5:7, and R&B singer Sunshine Anderson who performed under the various labels.

Knowles, who was married to Beyoncé’s mom and House of Dereon owner Tina Knowles for 31 years, got divorced nearly two years ago, when his affair with a younger woman, Alexsandra Wright, surfaced.

In 2010, Knowles and Wright had a child and its paternity was identified as his and made public.

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