The IRS has lost their minds (FTX fights the US gov)
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- Опубліковано 14 чер 2024
- I'm a patriotic person who understands the need for taxes... but the IRS asked for $24 billion from the FTX estate.
Here's what happened and how it's been resolved!
Good discussion of what appears to be a blatant, shameful piling-on. Thanks for your continuing excellent coverage of the FTX travesty!
Your work is brilliant: In the tragedy you make me smile: thanks!!!!!
So crazy, thanks for updating us!
At this point it just seems like another very fitting chapter for the tumultuous novel that is FTX
The Supreme Court. Held, affirmed. Embezzled funds are included as income of the embezzler and subject to federal income tax.
Honestly, I am sympathetic to "yopu treated it as income, you tax it as income" argument, it would be fun if IRS got to come for anything that is left after creditors are paid.
Where's my Carly videos? I know you must be cooking up something big. You are awesome.
Reckon it was a negotiation tactic. Also, borderline fraudulent too! At least the judge saw through it and made them squirm a little.
Thanks for the insight and motion conclusion. I am as conflicted as you are about the outcome, but do understand how the IRS bookworms can convince a reasoanable person it is owned income taxes on expenses that were written off as income (loss). FTX, et. al. were in a spending spree and someone has to pay the piper, that piper being Uncle Sam. At least they are low in priority as for who gets paid first.
It's not the "cookie jar" Carly, it's called legally owed tax liabilities, which SBF, family and friends seem to have ignored or forgotten. Why should any fraudster get away with contingent liabilities leaving regular taxpayers to fill the gap?
for 24 billion?
@@sethaie It is what it is, however this is possibly the worst case scenario.
Make up a number, any number! 😂
I thought taxes ranked higher than customer deposits in bankruptcy.
The $24:billion determination sounds like the same folks who do unicirn valuations computed the tax bill.
FTX received something of value, deposits from customers that they used to invest. That is income that is subject to income tax. The issue wasn't really whether or not this is so it was really just about calculating the amount.
Isn’t it true that FTX spent their customers money without the customers agreement and that act was deemed fraudulent. If the IRS are now claiming tax on those fraudulent transactions, isn’t is a law that companies and government organisations should not be benefiting financially from fraudulent acts. Not sure this would get to court outside of the USA.
If they collect the taxes, then isn't the revenue automatically legal? So Sam can get out of jail? 😆
@@HNedel if you take that argument to it’s logical conclusion. If the tax transaction confirms Sam’s actions wen’t fraudulent and Sam gets out of jail. Couldn’t he then just sue the government for §24bn for wrongful imprisonment?
is this how IRS calculating your taxes? wtf!
Hello, Are you by any chance looking for a video editor atm?
Another reason TOS and property rights should be argued for. Customer deposits were not income, it was plainly theft. The TOS are extremely clear.
The story of life. death & taxes.
Judges should be recused from ruling on irs cases as they are paid by the tax dollars.
IRS heard "going to the moon" and made a Geometric Series model for income; sounds about as legit as the rest of the story 😉
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Another excellent show Carly
IRS looking like a bunch of clowns yet again lol
The Pennywise kind of clown, yes.
24 billion..thats more than i earn in month...
I don't get it, didn't FTX lose 8 billion, how can the taxes be 24 billion?
I haven't been here in a while. What happened to the window set-up? It had a higher production value feel. Also, personally, not a fan of wet hair look. Initially it was distracting, but your presentation trumped the look, - concise and to the point, as usual.
S&C likely hired an economist who functions as a damages expert at trial to verify how the IRS came up with the numbers like where I work at vs a random intern 😊
First
Liking the "apres-shower" look.