Dame Dash Admits To Tax Woes

Reports recently came to light that Dame Dash owes $3 Million to the IRS and Dame admitted to the faux pas (to put it in light terms) in a recent interview on Sway Calloway's radio show on Shade 45.

"I owe way more than $2 million in taxes," said Dame. "That must've just been the IRS," said Dash, laughing. "Nah, nah, I'm f*cked up."

Dame continued, "They're auditing me. 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."

Dash also goes on to explain that an accountant holds a heavy responsibility within the business to properly report where expenses are going.

"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."

Jay-Z is making his rounds to promote his new book Decoded and dishing dirt on a number of lyrics that people misconstrued.

In an interview with Hot 97's DJ Cipha and Rosenberg, Jay Z talked his success and said he used his lyrics to paint pictures for his career.

“I really like to use my words to paint pictures. Back in the day when I was spitting the lyrics, like that was stuff that I saw myself doing. If you listen to my old records, even back then I was calling myself the king of the industry.”

Jay-Z also talks about how he before he died, Big L was signed to Roc-A-Fella Records.

“Right before he died we actually signed him. He had an incredible ability to write hooks and lyrics and I just knew he was going to be big.”

In addition to discussing past business ventures, Jay-Z also talked about his infamous battle with Nas and how he felt that “Takeover” was the better diss record than “Ether”.

“No disrespect to Nas, but if you look back it wasn't “Ether” the song it was the record,” Jay said. “If you take away the beat, it's a really dope record but my overall everything was better.”

In addition to discussing his book, Jay-Z has not stopped the 'Decoded' give-a-ways for fans.

Jay-Z and Bing have taken it one step further for fans who have been participating on the site to "decode" clues and find the pages in cyber space.

To reward their diligence, Jay-Z has decided to reward one lucky winner with a lifetime of free passes for two to any Jay-Z concert for the rest of their life.

To enter in and play Jay-Z's Decoded contest click here.

Listen to the interview below:

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In an interview with HardKnockTV.com, Freeway stated that a lot of the Roc roster didn't receive a heavy promotion in the end due to the personal feud that was going on with Jay-Z and Dame Dash.

“I just feel like towards the end, everyone was focaused on what Jay and Dame were doing and not really promoting our albums.  Like when everything was falling apart, everyone was concentrating on what they were doing versus what we're doing.”

Peep the Video Interview After The Break!!! [More]

When asked about his feelings regarding the beef that former label mate Beanie Sigel has with Jay-Z, Freeway states that he wishes the two would "reach out to each other" and move past their issue.

“I know it's crazy to everyone else, but really it all boils down to a misunderstanding,” Freeway continued. “If they would just talk to each other and clear the air, they would both see that it was a misunderstanding.”

Peep the video:

As previously reported, Dame Dash is looking to resuscitate that brand minus  fellow CEO turned Roc Nation mogul Jay-Z and with Curren$y in the fore-front; but it seems that all of the old Roc fam isn't completely off the radar.

According to Dash in his interview with MTV, he would love to re-sign the recently reunited Diplomats back to the infamous imprint and release a record.

“I think it's a great thing that Cam[ron] and Jim [Jones] are friends,” Dash said in the interview.  “I am happy for them. Under the right agenda, [I would love to work with them again]. If the circumstances are right, but it's just all about everyone being on the same page with the right agenda.”

We also told you that Dame stated that he has no beef with Jay-Z and that if he would like to re-join the new Roc movement, he is more than welcome.

“I ain't got no beefs with Jay,” said Dash, speaking with MTV. “Just off the strength that it's Roc-A-Fella, I could never tell Jay he can't be a part of something he helped create.”

The 6 week high school course entitled Music Business 101, is presented by Entertainers for Education Alliance (E4EA) and designed to give students a chance to learn the ins and outs of the music business first hand from Jim Jones and numerous other special guests.

“Jim has been a longstanding E4EA board member,” said Tonya Lewis, Co-Founder and Executive Director of Entertainers 4 Education Alliance Inc.  “He is a true Hip-Hop  talent who will teach and inspire kids about the many aspects of the music industry.  We know he will have a positive impact on the kids.”

High School Students aren't the only ones who will have the opportunity to learn from Jimmy's valuable insight.  On April 27^th, Jones will be lecturing at Fordham University to discuss fundamentals and business practices of the music industry and also explore creative content, artist management, music operations, music business threats, opportunities and networking.

Even more interesting Jim Jones will discuss intellectual property issues, production and distribution models and potential entrepreneur opportunities that are available.

Wow, with the pending Dipset reunion and the various opportunities, we may see a rise in the Dipset nation after all.

According to reports, Jay Z was spotted having dinner with the old Roc-A-Fella posse including Beanie Siegel and Memphis Bleek.

An insider tells HipHopWired.com  that today will make a historic day in Hip-Hop.

“Jay and Dame have talked about resurrecting the Roc” the insider claims.   “All they are looking at now is how they want to handle the deals with the side artists.”

Damon Dash also commented as he left the restaurant stating, [More]

“Time heals all wounds and we're back to getting this money.  Jay has always been like my brother so once again it's on.”

Jay didn't respond but did a flash a smile and held up the Roc sign as he exited.

All we can say is it's about time….that you guys caught on to the fact that this isn't real. Do we really have to say it?  Ha Ha!!!

The question on the minds of Hip-Hop cognoscenti, the glitterati and reporters alike is whether Dash, who co-founded the twin cash cows of rap music and fashion, Roc-A-Fella Records and Rocawear, will earn the dubious distinction of actually living a “hard knock life” after having earned a fortune for producing a smash record of the same name.

The mogul, once one of the ten richest and most powerful men in Hip-Hop, is now reportedly broke. He lost his home, and a Manhattan judge even ordered the city to seize his SUV because he couldn't afford his monthly car note.

Click here as our sister site The Atlanta Post takes a look at Dame as he works his way back.