United States: Comments submitted to IRS regarding plans to update MAP and APA guidelines

Suggestions for how successor guidance to Rev. Proc. 2015-40 and Rev. Proc. 2015-41 could further improve the MAP and APA programs

Regarding plans to update MAP and APA guidelines

The IRS’s current Priority Guidance Plan [PDF 253 KB] includes notations that guidance would be issued to update Rev. Proc. 2015-40 (mutual agreement procedure) and Rev. Proc. 2015-41 (advance pricing agreements).

The IRS in April 2022 also included an invitation for recommendations regarding next year’s Priority Guidance Plan. Read TaxNewsFlash

KPMG LLP today submitted comments to the IRS and Treasury Department with suggestions for how successor guidance to Rev. Proc. 2015-40 and Rev. Proc. 2015-41 could further improve the MAP and APA programs. Read KPMG’s comments [PDF 153 KB] 

 

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.