Damon Dash opens up about financial troubles

Damon Dash has opened up about the extent of his financial troubles, insisting he owes 'way more' than the $2 million tax debt already reported.

Jay-Z's former business partner hit the headlines in July when it emerged he had been hit with a tax lien from America's Internal Revenue Service (IRS) for $2,984,364 in unpaid bills.
 
Dash has long remained quiet about his cash difficulties, but he decided to come clean about his struggles during a radio interview with Sway Calloway on Friday.
 
When quizzed about the tax bill, Dash said: "I owe way more than $2 million in taxes. That must've just been the IRS... Nah, nah, I'm f**ked up (financially)."
 
But Dash insists he isn't broke - his money is just tied up in his various business ventures.
 
He added: "It's the price of business; it is what it is. I owe taxes: I got to pay... 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."
 
And Dash, who now owns his own DD172 music and publishing label, admits it will take a while before he can put his tax troubles behind him.
 
He said: "They (IRS officials) really don't believe that I'm so real about putting all of my money into my business, but that's what I do."
 
Dash first hit the headlines for his money woes in 2009, when two of his New York properties went into foreclosure and he was accused of owing $2 million in state taxes.