The IRS saw a dip in completed advance pricing agreements last year after a surge in 2023, according to new data from the agency.
The Internal Revenue Service finalized 142 APAs last year, according to new numbers released Thursday, down from 156 in 2023. The agreements allow companies to get pre-approval for their transfer pricing positions from the US and other countries and play a key role in providing certainty for taxpayers.
Companies filed 169 applications for APAs last year, roughly on pace with the 167 filed in 2023.
- The Advance Pricing and Mutual Agreement Program’s cases ...