IRS Seeks Feedback on Proposed APA Changes

Law360, New York (November 22, 2013, 5:14 PM EST) -- The Internal Revenue Service announced Friday it is accepting public comments on proposed revenue procedures that give further guidance and instruction on the administration of advance pricing agreements.

After the comment period ends on March 10, 2014, the IRS is expected to adopt updated regulations that alter Advance Pricing and Mutual Agreement Program, or APMA, rules and the agency's treatment of bilateral and multilateral APAs, ushering in substantive and organizational changes that have been needed since 2008.

Among the substantive updates, the IRS intends to recognize that...
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