IRS makes announcement relating to Advance Pricing Agreements

The IRS has released Announcement 2010-21:

Announcement 2010-21 is issued pursuant to § 521(b) of Pub. L. 106-170, the Ticket to Work and Work Incentives Improvement Act of 1999, which requires the Secretary of the Treasury to report annually to the public concerning Advance Pricing Agreements (APAs) and the APA Program.  The first report covered calendar years 1991 through 1999.  Subsequent reports covered separately each calendar year 2000 through 2008.  This eleventh report describes the experience, structure and activities of the APA Program during calendar year 2009.  It does not provide guidance regarding the application of the arm's length standard.

Announcement 2010-21 will appear in IRB 2010-15, dated April 12, 2010.

 

Posted by Joshua Hock, Associate Editor, Wealth Strategies Journal