FTX plans to pay the IRS $200M in priority tax claims and $685M in subordinated tax claims, rather than the $24B claimed by the IRS. FTX argued in bankruptcy court that its owed amount is far less than the IRS's calculation, asserting that the IRS incorrectly included funds misappropriated by Sam Bankman-Fried and other tax liabilities. The IRS disagrees with this argument and plans to seek substantial tax liability if a settlement cannot be reached. The objection deadline for the case is June 17, with a hearing date set for June 25, 2024.

<div>
<p>According to Deep Tide TechFlow news and The Block, FTX plans to pay $200M in priority tax claims and $685M in subordinated tax claims to the IRS, based on legal documents from June 3. Priority tax claims, such as taxes, must be paid before other debts, while subordinated claims are only paid after fulfilling priority obligations.</p>
<p>FTX argued in bankruptcy court that the amount it owes is far less than the $24B claimed by the IRS. Previously, the IRS claimed FTX owed $44B in taxes but later reduced the amount to $24B.</p>
<p>The FTX debtors managing the company during its bankruptcy believe that the IRS incorrectly included funds misappropriated by Sam Bankman-Fried and other tax liabilities in its calculations. The IRS disagrees with the debtors' argument and plans to seek substantial tax liabilities if a settlement cannot be reached. The objection deadline for the case is June 17, with a hearing date set for June 25, 2024.</p>
</div>

FTX plans to pay $200 million in taxes to the IRS, questioning the $24 billion tax liability calculation.