What power is given to the Internal Revenue Service (IRS)under code section 482?

Question

Quizplus · Accepted Answer

Code section 482 provides the IRS with the authority to audit international transfer prices, which are prices for goods or services paid between different parts of the same multinational company. This is to prevent multinational companies from using transfer pricing to shift profits to lower-tax countries and reduce their tax liabilities. Option A and C are incorrect as they are not within the scope of the powers given to the IRS under Code section 482.

What Power Is Given to the Internal Revenue Service (IRS)under