IRS Tax Bill Would Take Cash From Victims of FTX Bankruptcy
- FTX fighting with US tax officials over $24 billion IRS claim
- Company seeks court procedure to set size of alleged tax bill
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US officials will take money away from victims of the fraud-tainted crypto firm FTX Trading Ltd. unless a judge rejects the government’s demand for $24 billion in unpaid taxes, the bankrupt company said in a court filing.
The two sides are scheduled to be in court Wednesday arguing over the best procedures to determine how much of the Internal Revenue Service claim is legitimate. FTX wants to set a quick schedule to estimate the claim; the IRS has argued that its audit is ongoing, so asking a judge to estimate how much FTX might owe in taxes is inappropriate.