IRS - FTX Challenges IRS's $24B Tax Demand Asserts Zero Liability In Court Filing | Benzinga
Attorneys for the beleaguered cryptocurrency exchange FTX (CRYPTO: FTT) have contested the Internal Revenue Service's (IRS) claim of owing back taxes amounting to $24 billion, arguing that the IRS should substantiate its claims and clarify how it estimated the back taxes owed.
In a filing with the U.S. Bankruptcy Court for the District of Delaware, the exchange maintains that it owes nothing to the IRS, challenging the tax agency's demand, which significantly exceeds FTX's available resources for creditor reimbursement.
The exchange stated that FTX operated for approximately three years without distributing ...