Samuel M. Maruca, the director of transfer pricing for the IRS, has announced that the newly formed group will be doing a road show for the field offices to introduce a new Transfer Pricing Roadmap consisting of audit guidelines to aid in the effective case selection and development of audit issues. The intent is to produce a guideline aligning current practices to form a best practices model.
The initiative is directed at the middle market, and intended to be a “soup to nuts” approach in the audit process. While the service has well established guidelines in place, this initiative is intended to be a more “holistic” approach in the development of issues in the audit.
The service will release the road map to the public, but no date has been set for publication. Companies should be prepared, as examiners will be requesting transfer pricing documentation as a normal part of the exam process. Will you be prepared with the necessary transfer pricing documentation, when the time comes? Be the first to comment….
This article was originally published on Checkpoint.