Dame Dash Owes Uncle Sam $2.8 Million
Dame Dash’s debt just got deeper. Over the July 4th weekend, the Roc-A-Fella Records co-founder was hit with a $2.8 million tax lien, claiming that he owes Uncle Sam plenty of stacks from 2005 ($2.6 million) and 2011 ($187,544), TMZ reports.
Dash—who publicly cut his ties with former biz partner Jay-Z in 2004—has been battling the IRS for several years, losing multiple properties to foreclosure. “The drumbeat of debt has made it not only nearly impossible for me to maintain my businesses,” Dash said about his money troubles, according to the New York Daily News. “They have caused me to fall far behind on my personal expenses.”
The struggling mogul confirmed he owed “way more” than $2 million in taxes in New York and New Jersey, adding that the IRS was auditing him as a result of his accountant’s failure to itemize his expenses from business ventures.
“If I have an accountant that just reports I just invested $10 million in my business and he doesn’t exactly itemize where every cost goes, it gives a flag to the government,” he said, according to MTV News. “They want to make sure that the reason I’m not paying taxes is because I’m reinvesting in these businesses and not trying to hide stuff.”
Still, the hefty tax lien hasn’t kept Dash from turning a deaf ear to the streets. He was spotted rocking out to Mr. Carter’s Magna Carta Holy Grail at Well Connected Barbershop in Manhattan Friday (July 5). “In the barber shop listening to jays new album,” Dash wrote on Instagram. “I can’t front… I still like hearing him pop shit cause I know he’s telling the truth…proud to be be a part of that..#bittersweet.” —Andrew Asare