In the call obtained by TMZ.com, Lindsay reveals that she lent her mother $40,000 so Dina could save her house from foreclosure.
The supposed-to-be-sober Lohan also accused her mother of being on cocaine.
"She's saying disgusting things to me . . . I'm dead to her now," Lindsay said.
Michael tried to calm his daughter down, disparaging his Dina all the while.
Although TMZ never explicitly stated that Michael gave them a tape of the phone call, we're guessing the call came from him, considering his voice sounds clear, while Lindsay's is muffled, yet still sounds frazzled.
The cops showed up after the Lohans returned home.
"At 8:06 a.m. [police] got a call for a domestic disturbance. There had been some sort of verbal dispute between Lindsay and her mother that took place in a limo that was coming from New York City," a spokeswoman for the Nassau County Police Department told People magazine about the incident.
"There were no arrests, no police action. It just goes down as a domestic incident."
But Michael Lohan told the New York Post that incident was "a hell of a lot more than" a verbal dispute.
And, sure, there were no tangible damages, but what about the injuries the cops can't see?
Dina has yet to comment publicly but Lindsay and Dina were seen embracing late Wednesday.
Kidnapping a Kennedy?
Taylor Swift has no plans to get into the kidnapping biz, the pop star told Rolling Stone.
Rumor has it that Swift, 22, missed her boy toy, 18-year-old Conor Kennedy, so much that she picked him up from high school and flew him to Nashville, Tenn.
"How did I kidnap him?" Swift said.
"You can't kidnap a grown man! These are serious accusations, now!"
Well, if he hasn't even graduated from high school yet, at least the "kid" part of the -napping still applies.
The senior Kennedy women, namely Conor's cousins Caroline Kennedy and Maria Shriver, are not happy with how so-very close Conor and Swift have gotten as of late.
Kathie Lee Gifford even confirmed that Conor and Swift crashed the wedding of her stepdaughter, Victoria Gifford Kennedy.
But Swift denies wrongdoing.
"I think that story was based on the biggest misunderstanding, 'cause I would never knowingly show up somewhere that I thought I wasn't invited to," she told Rolling Stone.
"And I would never want to upstage anybody."
In other Swiftian news, Shriver may have more to worry about than she thinks.
Star magazine is reporting that Swift was caught cheating on Conor at a Kennedy family event with Shriver's son, Patrick Schwarzenegger.
"Taylor and Patrick weren't kissing out in the open, but she wasn't being as subtle as she thought she was," an anonymous source told Star.
"Conor doesn't know, but everyone else in the family does."
Swift is known for referencing her breakups in song, calling out former beaus from Joe Jonas to John Mayer.
But she may not be a victim this time. The heartbroken becomes the heartbreaker.
Contact Molly Eichel at email@example.com or 215-854-5909. Follow her on Twitter @mollyeichel.