Heads I Win, Tails You Lose. Or is an APA a contract subject to contract law?
On August 25, 2022, the Sixth Circuit Court of Appeals answered a fundamental question about advance pricing agreements (APAs): Is an APA a contract between the IRS and a taxpayer?[1] If it is a contract, is it subject to contract law? Circuit Judge John Nalbandian answered this question for the unanimous three-judge Appellate panel, opening…