Damon Dash hit with $2.8 million tax lien

Damon Dash Hit With $2.8 Million Tax Lien

Damon Dash, Jay-Z’s former business partner, has been hit with a $2.8 million tax lien.

Dash, who co-founded Roc-A-Fella Records with Jay and Kareem “Biggs” Burke in 1996, owes money for unpaid taxes from 2005 and 2011. Dash also co-founded Rocawear with Jay-Z in 1999.

According to TMZ, in 2005, Dash owed $2,614,918.10, and in 2011 owed $187,544.20. Dash parted ways with Jay-Z in 2004, netting $20 million in the split.

In May, the 42-year-old reportedly owed $100,000 in rent and was facing eviction. In a five-page court filing, Dash wrote, “I am currently several months behind in paying my personal bills. For instance, I am currently over $100,000 behind in rent for the only home in which I live and at risk of being evicted.”

Not only that, but Dash also pays $24,000 every three months to ex-wife Rachel Roy for child support for their two children.

Dash had previously lost multi-millon dollar lofts in Tribeca, and had $7.3 million left on the mortgages.

In 2011, Dash confirmed that he owed “way more” than $2 million in taxes, and said that he was being audited as a result of his accountant’s failure to itemize his expenses.

“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. “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.”

Damon Dash isn’t the only celebrity to face tax problems this year. Last month, Fat Joe was sentenced to four months in prison and fined $15,000 for failing to pay taxes on more than $1 million of income earned between 2007 and 2008. And in May, Lauryn Hill was sentenced to three months for failing to pay about $1 million in taxes over the last decade.

What do you think of Damon Dash’s tax troubles?

 

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