John Hughes, Director of the Internal Revenue Service’s (IRS) Advance Pricing and Mutual Agreement Program (APMA), said in a 7 October 2021, webinar that the IRS is maintaining its stance on telescoping but studying ways that it can alleviate the taxpayers' administrative burden, according to an article in Law 360.¹

In October 2020, APMA updated the parameters that it follows in mutual ag…