Overview
Tax Notes quoted Matthew Frank in a May 16, 2022 article titled "Reviewing Transfer Pricing’s Standard Of Review After Coca-Cola." The piece discusses the IRS's application of Section 482 in transfer pricing cases, following the outcome of Coca-Cola Co. v. Commissioner.
In response to whether the IRS needs another level of deference for enforcing and interpreting section 482 in court, "Frank argues that the agency has already exercised much of that discretion in the form of regulatory action." He contends that the statute "…should not be applied by the government with the scales tipped more heavily in its favor than the regulations already do."
The full article can be read at Tax Notes (Subscription Required).