IRS Files $44 Billion Claims in FTX Bankruptcy Proceedings

One of the largest claims is a $20.4 billion demand against Alameda Research LLC, citing unpaid partnership taxes amounting to nearly $20 billion.

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The US Internal Revenue Service (IRS) has submitted claims amounting to around $44 billion against the estate of the bankrupt cryptocurrency exchange FTX and its associated entities.

Bankruptcy filings from April 27 and 28 reveal that the IRS has made 45 claims against various FTX companies, including West Realm Shires (the legal entity of FTX.US), Ledger Holdings (the parent company of LedgerX and LedgerPrime), and Blockfolio, among others.

Among the claims, the most significant ones include a demand of $20.4 billion and another of $7.9 billion against Alameda Research LLC. Additionally, there are two claims totaling $9.5 billion against Alameda Research Holdings Inc.

The claims submitted by the IRS are categorized as “Admin Priority,” which means they may receive priority over other creditors’ claims in the bankruptcy proceedings.

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Documents related to the bankruptcy reveal that the IRS has filed a $20.4 billion claim against Alameda Research LLC, primarily consisting of approximately $20 billion in partnership taxes. The remaining portion of the claim includes millions in unpaid income taxes and payroll taxes.

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A spokesperson for the IRS stated that they are unable to confirm or deny any communication related to taxpayer cases due to federal law.

During a hearing in January 2023, FTX’s bankruptcy attorneys reported the discovery of over $5 billion in different assets. In the initial bankruptcy filings, the company estimated its total assets to be somewhere between $1 billion and $10 billion. These figures have since changed as the company’s management has found additional funds over the past few months.



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