FTX Disputes IRS's Meritless $24 Billion Tax Claim, Says It Threatens Victim Recoveries
- IRS claims $24B in tax arrears from FTX, lowered from initial $44B claim
- FTX lawyers argue claim is "orders of magnitude greater than any income FTX ever earned"
- Claim will prevent FTX creditors and victims from meaningful recovery
- FTX calls claim meritless, lacking legal basis, and delaying distributions
- Administrators recovered $7B in FTX assets so far, including $3.4B in crypto