FTX debtors push back against $24B IRS claim

FTX debtors warned that a $24 billion claim by the Internal Revenue Service could slow down the return of customer funds. 

The filing, made on Sunday, further argues that the FTX debtors “never earned anything anywhere near amounts that could support the IRS Claims for $24 billion in taxes.”

Instead, lawyers wrote, debtors for the bankrupt exchange incurred billions in losses.

“These cases present a zero-sum game. The only source of recovery for the IRS is by taking recoveries away from victims. As there is no basis to assert any tax claim against the Debtors, the IRS’s reliance on its own processes only serves to delay distributions to those truly injured,” FTX…

Read more on Blockworks

26K Reads