FTX has reached an agreement with the Internal Revenue Service (IRS) to settle a $24 billion tax claim by paying $885 million. This settlement emerges from the bankruptcy proceedings initiated by FTX.
According to a filing with the Bankruptcy Court for the District of Delaware, FTX will make a $200 million payment for priority claims to the IRS. This amount is required within 60 days following the implementation of a court-approved creditor repayment plan.
FTX’s legal representatives acknowledged the potential for significant tax liabilities but disputed the IRS’s $24 billion claim. They argued that a multi-billion dollar tax payment could substantially impact individual creditor reimbursements.
Beyond the $200 million priority payment, FTX owes the IRS an additional $685 million, classified as "lower priority." This amount is
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First found on: Crypto news from Coinatory
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