Damon Dash Talks Tax Debt Woes
Dame provides details regarding his delicate tax situation.
Amidst reports that he owes the IRS $3 million, Dame Dash recently appeared on Sway Calloway's "Sway in the Morning" radio show on Shade 45 to discuss his financial troubles.
"I owe way more than $2 million in taxes," said Dame in footage courtesy of MTV News. "That must've just been the IRS," said Dash, laughing. "Nah, nah, I'm fucked up."
"They're auditing me," explained Dame. "When you're a business man, you have a lot of businesses, a lot of times they think you're laundering money or you're pretending you're writing things off that you don't. I'm a true businessman. As you know, I believe in my independence, I have no partners, so every dollar I make goes right back into every business I have."
Dame contends that it is an accountant's failure to itemize the expenses is the reason behind the issue. "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. 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."
Watch the interview below: