News - IRS demands $44 billion from FTX

By Luc Vesters

IRS demands $44 billion from FTX

Laws and regulations
IRS demands $44 billion from FTX

The US Internal Revenue Service (IRS) claims about $44 billion from the bankrupt crypto exchange. Bankruptcy filings prove this.

The largest claims are $20.4 and $7.9 billion against Alameda Research LLC and its so-called partnership taxes, respectively. The balance of the claim includes income and payroll taxes withheld in the millions. The IRS filed the lawsuit under the "Admin Priority" classification, which can give the IRS priority over creditor claims. "Federal law prohibits the IRS from confirming or denying notices of a tax case," said a spokesman for the agency.

Earlier this year, FTX managers already managed to secure five billion dollars. In March, they provided additional funds in the millions. As the restructuring of the crypto exchange continues, lawyers are demanding nearly $4 billion from Genesis.

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