The latest round of negotiations between the WGA and the AMPTP is said to be wrapping up soon ... with either an agreement to end the strike, or a signal to hit the picket lines again.

Leadership from both parties -- including a reported handful of high-profile CEOs from the major studios -- have been hashing out a new deal over the past several days ... which has crept into the weekend and into the wee hours of the night.

As of Sunday, reports say the AMPTP has given WGA its "best and final" offer ... a leaked line that hasn't sat well with normie members -- who are scoffing at the notion of that.

Basically, the WGA has to read all the fine print now and make sure they're good with the terms the studio bosses are offering ... and it sounds like the devil is in the details, as lawyers pore over the paperwork and go back and forth with union brass -- who, of course, speak on behalf of countless individuals who are currently on strike from East to West.

A lot of the nitty gritty pertains to money, AI and more guaranteed writers in writer rooms -- among other sticking points -- but the idea that these terms from AMPTP are the best they can realistically do suggests they won't come to the table for a while if WGA turns it down.

There's also this ... Yom Kippur -- the holiest of Jewish holidays -- is literally about to start come sundown Sunday ... and many have reported the AMPTP wants an answer before then.

Considering it's already past 6 PM PT right now ... something tells us this baby is gonna get kicked down the road and dealt with another day. Don't get us started on SAG-AFTRA ... which is on its own strike right now, and which isn't anywhere near a deal either.