FTX claims that the IRS's demand for $24 billion in unpaid taxes is delaying the recovery of user funds

ChainCatcher news, according to The Block, FTX's lawyers stated in new documents submitted to the Delaware bankruptcy court that the IRS should confirm its claims against FTX and explain how it estimated the so-called unpaid taxes. This is the latest step in a months-long dispute between the IRS and FTX's bankruptcy assets, focusing on how much the bankrupt trading platform and its affiliates owe the government in unpaid taxes.

Although FTX claims it owes nothing to the IRS, the tax agency is seeking up to $24 billion, a claim amount that is more than three times the amount the agency currently owes to repay creditor losses. The lawyers stated in the documents that during FTX's three-year lifespan, it never distributed dividends or profits and "never earned any amount sufficient to support the IRS's claim of $24 billion in taxes"; instead, FTX lost a significant amount of money.