The U.S. IRS recently released Announcement 2022-7, Announcement and Report Concerning Advance Pricing Agreements. The report describes the experience, structure, and activities of the Advance Pricing and Mutual Agreement Program during calendar year 2021. As compared to 2020, 2021 saw an increase in APA applications filed from 121 to 145, with a decrease in executed APAs from 127 to 124.

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