US Seeks More Than $1 Billion From Collapsed SVB for Taxes
Silicon Valley Bank headquarters in Santa Clara, California.
Photographer: Philip Pacheco/BloombergThis article is for subscribers only.
The US Internal Revenue Service is seeking to recover about $1.4 billion in taxes it claims are owed by Silicon Valley Bank, the regional lender that failed last year.
The federal tax agency claims the California-based lender owes both corporate income and employment taxes spanning a four-year period ending in 2023, according to a lawsuit filed Tuesday in Washington federal court. The complaint was brought against the Federal Deposit Insurance Corporation, which is the receiver of the collapsed bank.