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A binding contract between the IRS and the taxpayer by which the IRS agrees not to seek a transfer pricing adjustment for a covered transaction

A binding contract between the IRS and the taxpayer by which the IRS agrees not to seek a transfer pricing adjustment for a covered transaction if the taxpayer files its return for a covered year consistent with the agreed transfer pricing method is called a(n):

a.Section 482 study.

b.Advance Pricing Agreement Program.

c.Request for competent authority.

d.Controlled transaction analysis agreement.

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