APA report for 2023 shows number of APAs executed more than doubled

Executive summary

The IRS Advance Pricing and Mutual Agreement Program (APMA) issued the 25th annual Advance Pricing Agreement (APA) report (the Report) on March 30, 2024, in Announcement 2024-16. The Report discusses APMA, including its activities and structure for calendar year 2023, and gives useful insights into its operation.

The total number of APAs executed increased significantly from 77 to 156 and the median amount of time to finalize an APA decreased from 43.4 months in 2022 to 42 months…