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IRS Shifts Audit Focus to Penalties for Transfer Pricing Cases

Nov. 1, 2022, 5:59 PM

The IRS expects to see an increase in transfer pricing penalties—a shift in the agency’s audit focus, an official said Tuesday.

The agency will continue to look more closely at transfer pricing cases to determine when to assert penalties, Holly Paz, acting commissioner of the IRS’s Large Business and International division, said at a conference hosted by the American Institute of CPAs.

“We expect that we will see an increase in the number of penalties asserted in the future,” Paz said. “We’re looking at ways to promote early resolution of these cases.”

  • Penalties “haven’t really ...