TechFlow news, according to Bloomberg, FTX has reached a settlement with the U.S. Internal Revenue Service (IRS) over a $24 billion tax claim, agreeing to pay only a fraction of the amount owed, which will help FTX fund customer compensation.
The IRS will receive a $200 million priority claim in the FTX bankruptcy case, to be paid within 60 days after the proposed restructuring plan takes effect. Additionally, the agency will receive a lower-priority claim of $685 million to help compensate customers and other creditors.
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