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On March 25, the IRS Advance Pricing and Mutual Agreement Program (APMA) issued its 21st Annual Statutory Report (the Report) concerning Advance Pricing Agreements (APAs). The Report reveals that, as compared to the prior year, APMA completed more APAs and completed them somewhat more quickly. A total of 120 APAs were executed in 2019 as compared to 107 APAs executed in 2018. For APAs completed in 2019, the average processing time was 40 months, a slight decrease from the prior year’s average of 43 months.

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