The IRS of US is also at loggerheads with a defunct crypto exchange, FTX. The lawyers for FTX have gone head to head with IRS and are asking them to rationalize their calculation that FTX allegedly underpaid an $44billion tax liability later brought down to $24 billion. FTX claims it did not owe any tax because it did not make sufficient profits after it reportedly distributed some of the profits. This case involves tax claims for income and employment during the years 2018 through 2022 which IRS insists is due despite complying with most of the documentation request by FTX. A new date for another hearing in the case of FTC bankruptcy will take place on November 13.