help me understand how they recovered $8 billion from ftx but irs already is claiming $48 bil?

They recovered $8 bill

But irs says it's owed $48 bil?

The whole company was valued at $32 bil

I mean they literally are trying to steal every penny of customers money. Like every single possible penny.
While on the other end they make deposits of failed banks whole. Is everyone playing with chatgpt and not seeing this?

27 thoughts on “help me understand how they recovered $8 billion from ftx but irs already is claiming $48 bil?”

  1. Yep. The IRS isn’t fucking over FTX with this, they are taking from FTX customers

  2. Oh we definitely see that, but what are you gonna do about it? Write an angry letter to the SEC? Demonstrate to get rid of the dreaded two-party system? No sir, we sit comfy and shitpost.

    And as a non-US, I can do absolutely nothing about it.

  3. So a very large portion of the tax bill relates to payroll taxes.

    Imagine you start a business and have $100,000 in revenue, and pay $100,000 in wages. Your company made $0 of profit. The value of your business is based on your current and future profit. If investors think you will be profitable sometime in the future, your company might be worth $500 or $1,000 or $X.

    Payroll taxes, are based off of wages, not profit. So if the company failed to pay payroll taxes on the wages, it would amount to over $15,000, even though the value company is lower.

    It seems what FTX did was to classify most workers as contractors. This means the payroll taxes would not be paid by FTX. The IRS comes in and reclassifies employees as W-2 workers, and now FTX is liable for all the payroll taxes on those wages.

  4. 8 bil was the value of the assets they managed to recover/clawback in the end. What IRS is asking is for the taxes not paid in multiple years or all the years FTX functioned and didn’t pay taxes. The 2 sums don’t mix but unfortunately depositors will come second probably, after IRS

  5. We see it but it’s like watching the huge bully from school taking your lunch. If you say something, he will punch you

  6. IRS are bunch of greedy fuckers than want to get their share even if it mean screwing up customers. Government should always vte paid last if anything is left after customers get paid.

  7. The IRS is going to claim at least as much as they think they can take because they can.

  8. Imagine not even living in the usa and the IRS is walking away with your pennies. 10 outta 10

  9. IRS trick that creditors hate… they always get paid first. Sounds like they want it all.

  10. It’s easy to do by not accounting for your taxes due but keep gambling with everything you got. But hey this is r/CC, don’t let common sense get into the way of a good conspiracy theory.

  11. I think you need to understand what IRS is claiming for before you jump to the conclusion that they are stealing money from customers

  12. You thought you were getting your money back? Nope, haha, it’s all going to the money printers.

  13. Their fraudulent activity goes far beyond just taking people’s deposits.

    They screwed many different people in many different ways.

    Now all the vultures are gathering around to pick at the carcass of FTX.

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