Share with your friends

KPMG report: IRS transfer pricing teams must consult competent authority

IRS transfer pricing teams, consult competent authority

IRS exam teams are now required to confer with competent authority for audits that could end up in the mutual agreement procedure (MAP) because of transfer pricing adjustments with a country that is a U.S. treaty partner.


Related content

This is a positive development for taxpayers because the consultation might eliminate or narrow potential transfer pricing adjustments. Read a March 2019 report [PDF 71 KB] prepared by KPMG LLP: What’s News in Tax: IRS transfer pricing teams must consult with competent authority 

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in 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 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Want to do business with KPMG?


loading image Request for proposal