Damon Dash, known as the co-founder of brands such as Roc-A-Fella Records and Rocawear, looks to be in a little financial trouble, specifically being up to date with the IRS.

According to a report from the New York Post, the 36-year-old hip-hop mogul owes the state of New York more than $2 million is back taxes, but he is only one of nearly 225,000 debtors who owe the city more than $1 billion in taxes, penalties and interest.

Dash's possessions include a $400,000 Mercedes Maybach sedan with a chauffeur, several diamond-encrusted watches and over 1,000 pairs of sneakers. And has a fortune that is estimated at $50 million.

Back in April, Dash filed a multi-million dollar lawsuit against his accountant in April for submitting several years of erroneous tax returns on his behalf -- which includes tax returns for 2000 and 2001.

In October, Dash put his name on the 70s Harlem drug kingpin documentary on Nicky Barnes called "Mr. Untouchable," via a partnership with Magnolia Films to release it through Damon Dash Enterprises.

The film opened in select theatres on October 19.