Alcohol does not react with stomach acids, nor is it broken down there..
Alcohol is detoxified in the liver by various enzymes, the metabolism steps are alcohol - acetaldehyde - acetate - water and CO2.
Acetaldehyde is highly toxic, and a known human carcinogen.
"In the liver, alcohol is metabolized by the oxidative and non-oxidative pathway. In the oxidative pathway, the major pathway of alcohol digestion, alcohol is oxidized to acetaldehyde by various enzymes including alcohol dehydrogenase (ADH), cytochrome P450 2E1 (CYP2E1), and catalase"
Source: National Institute of Health.