The IRS has filed a series of lawsuits against the bankrupt FTX exchange and its subsidiaries for a total of $44 billion.
The insane Alameda Research LLC tax bill circulating is real. The major balances don’t have detail, but in part it appears the IRS went back and reclassified ALL employees from contractors to employees and hit them for unpaid employer-side employment taxes. pic.twitter.com/GuY6czcgMn
— Meat (🥩,🥩) (@MeatTC_) May 10, 2023
The largest of the claims – for $20.4 billion and $7.9 billion – are directed against Alameda Research LLC. The IRS also filed two lawsuits for $9.5 billion against Alameda Research Holdings Inc.
The statement said the IRS is seeking about $20 billion in partnership taxes. The remainder includes unpaid income deductions and payroll taxes.
The court documents are filed under an “administrative priority” classification, which puts the agency’s claims ahead of other creditors in the bankruptcy case.
Other entities sued by the IRS include West Realm Shires, Ledger Holdings, Blockfolio, and others. In total, the regulator sent 45 applications.
Recall that in May, FTX lawyers demanded a return of $4 billion from the bankrupt crypto-lending platform Genesis.
That same month, a court approved a deal between FTX and Miami International Holdings’ subsidiary to sell crypto derivatives platform LedgerX for $50 million.
Lawyers for the founder of the collapsed stock exchange, Sam-Bankman Freed, later requested that most of the charges be dropped, except for conspiracy to commit securities fraud, commodities fraud and money laundering.
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