FTX and IRS settle $24 billion tax claim
2024-06-04 15:55:31
FTX has reached a settlement with the IRS on a $24 billion tax claim for a fraction of what the IRS says it owes, helping FTX pay substantial customer compensation. The IRS will receive a $200 million priority claim in FTX's bankruptcy case, which will be paid within 60 days of the company's proposed restructuring plan taking effect. The agency will also receive a lower priority claim of $685 million, 'paid to customers and other creditors on a secondary basis,' and'to the extent funds are available '.
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