Beyonce's Father Owing Taxes.. Might Go To Prison

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

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

Uncle Sam just filed a ridiculously large lien against Knowles, claiming he needs to cough up some cash from the years 2010 ($485,575.95) and 2011 ($728,004.89) … all totaled, $1,213,580.84.

It's no wonder the bill is so high … Beyonce is arguably one of the highest grossing musical talents OF ALL TIME — and during the years 2010 and part of 2011 MK was still managing her career. Not to mention his slew of other projects, including his own record label.