IRS Says 2023 Was Strong Year for Closing Advance Pricing Deals

The IRS had “a very good year” in 2023 wrapping up advance pricing agreements, rebounding from the impact of the Covid-19 pandemic, an IRS official said Tuesday.

2023 was “probably the best year as far as closing APAs ever,” said John Wall, acting director of the IRS Advance Pricing and Mutual Agreement Program, on a Federal Bar Association virtual panel. The program’s full annual report will be released in a few weeks, he said.

Companies use advance pricing agreements—or APAs—to get pre-approval from the US and other governments for the prices and other terms of their future intercompany ...