The Czech Republic forward spent a short amount of time on loan with the Swans toward the end of their successful promotion campaign last term but the Tractor Boys have not received payment of invoices relating to the loan.
The loan agreement stipulated that Swansea would cover Priskin's wages up to 31st May even though he picked up an injury on 22nd April and now Ipswich chief executive Simon Clegg says the Swans will be reported to Premier League officials.
"I am hugely disappointed that a legally binding agreement reached in good faith by both clubs as part of Swansea's final push for promotion is now being disputed," he told the club's official website.
"I am genuinely delighted for Swansea City and their fans but the attempted re-negotiation and deliberate misinterpretation of agreed terms by their chairman is not fitting for a club which has just secured the ultimate prize in Championship football and with it a £90million windfall.
"Tamas arrived in Swansea fit and became injured whilst under their care. That's football, but contracts have to be honoured and I have absolutely no interest in re-negotiating the agreement.
"As a result of Swansea refusing to pay our invoices, I have reported them to the Premier League, sought an immediate transfer embargo and am now seeking full payment of all outstanding sums with the agreed contractual interest rate of 5 per cent above base."