Internal Revenue Bulletin — Rulings & Guidance
Rev. Rul. 2022-17 — Federal rates; adjusted federal rates; adjusted federal long-term rate, and the long-term tax exempt rate.
This revenue ruling provides various prescribed rates for federal income tax purposes for September 2022 (the current month). Table 1 contains the short-term, mid-term, and long-term applicable federal rates (AFR) for the current month for purposes of section 1274(d) of the Internal Revenue Code. Table 2 contains the short-term, mid-term, and long-term adjusted applicable federal rates (adjusted AFR) for the current month for purposes of section 1288(b). Table 3 sets forth the adjusted federal long-term rate and the long-term tax-exempt rate described in section 382(f). Table 4 contains the appropriate percentages for determining the low-income housing credit described in section 42(b)(1) for buildings placed in service during the current month. However, under section 42(b)(2), the applicable percentage for non-federally subsidized new buildings placed in service after July 30, 2008, shall not be less than 9%. Finally, Table 5 contains the federal rate for determining the present value of an annuity, an interest for life or for a term of years, or a remainder or a reversionary interest for purposes of section 7520.
REV. RUL. 2022-17 TABLE 1
| Applicable Federal Rates (AFR) for September 2022 | ||||
|---|---|---|---|---|
| Period for Compounding | ||||
| Annual | Semiannual | Quarterly | Monthly | |
| Short-term | ||||
| AFR | 3.05% | 3.03% | 3.02% | 3.01% |
| 110% AFR | 3.36% | 3.33% | 3.32% | 3.31% |
| 120% AFR | 3.67% | 3.64% | 3.62% | 3.61% |
| 130% AFR | 3.98% | 3.94% | 3.92% | 3.91% |
| Mid-term | ||||
| AFR | 2.93% | 2.91% | 2.90% | 2.89% |
| 110% AFR | 3.23% | 3.20% | 3.19% | 3.18% |
| 120% AFR | 3.52% | 3.49% | 3.47% | 3.46% |
| 130% AFR | 3.82% | 3.78% | 3.76% | 3.75% |
| 150% AFR | 4.42% | 4.37% | 4.35% | 4.33% |
| 175% AFR | 5.15% | 5.09% | 5.06% | 5.04% |
| Long-term | ||||
| AFR | 3.14% | 3.12% | 3.11% | 3.10% |
| 110% AFR | 3.46% | 3.43% | 3.42% | 3.41% |
| 120% AFR | 3.77% | 3.74% | 3.72% | 3.71% |
| 130% AFR | 4.10% | 4.06% | 4.04% | 4.03% |
REV. RUL. 2022-17 TABLE 2
| Adjusted AFR for September 2022 | ||||
|---|---|---|---|---|
| Period for Compounding | ||||
| Annual | Semiannual | Quarterly | Monthly | |
| Short-term adjusted AFR | 2.31% | 2.30% | 2.29% | 2.29% |
| Mid-term adjusted AFR | 2.22% | 2.21% | 2.20% | 2.20% |
| Long-term adjusted AFR | 2.38% | 2.37% | 2.36% | 2.36% |
REV. RUL. 2022-17 TABLE 3 Rates Under Section 382 for September 2022
| Adjusted federal long-term rate for the current month | 2.38% |
| Long-term tax-exempt rate for ownership changes during the current month (the highest of the adjusted federal long-term rates for the current month and the prior two months.) | 2.54% |
REV. RUL. 2022-17 TABLE 4 Appropriate Percentages Under Section 42(b)(1) for September 2022
| Note: Under section 42(b)(2), the applicable percentage for non-federally subsidized new buildings placed in service after July 30, 2008, shall not be less than 9%. | |
| Appropriate percentage for the 70% present value low-income housing credit | 7.70% |
| Appropriate percentage for the 30% present value low-income housing credit | 3.30% |
Section 42.—Low-Income Housing Credit
The applicable federal short-term, mid-term, and long-term rates are set forth for the month of September 2022. See Rev. Rul. 2022-17, page 182.
Section 280G.—Golden Parachute Payments
The applicable federal short-term, mid-term, and long-term rates are set forth for the month of September 2022. See Rev. Rul. 2022-17, page 182.
Section 382.—Limitation on Net Operating Loss Carryforwards and Certain Built-In Losses Following Ownership Change
The adjusted applicable federal long-term rate is set forth for the month of September 2022. See Rev. Rul. 2022-17, page 182.
Section 467.—Certain Payments for the Use of Property or Services
The applicable federal short-term, mid-term, and long-term rates are set forth for the month of September 2022. See Rev. Rul. 2022-17, page 182.
Section 468.—Special Rules for Mining and Solid Waste Reclamation and Closing Costs
The applicable federal short-term rates are set forth for the month of September 2022. See Rev. Rul. 2022-17, page 182.
Section 482.—Allocation of Income and Deductions Among Taxpayers
The applicable federal short-term, mid-term, and long-term rates are set forth for the month of September 2022. See Rev. Rul. 2022-17, page 182.
Section 483.—Interest on Certain Deferred Payments
The applicable federal short-term, mid-term, and long-term rates are set forth for the month of September 2022. See Rev. Rul. 2022-17, page 182.
Section 1288.—Treatment of Original Issue Discount on Tax-Exempt Obligations
The adjusted applicable federal short-term, mid-term, and long-term rates are set forth for the month of September 2022. See Rev. Rul. 2022-17, page 182.
Section 7520.—Valuation Tables
The applicable federal mid-term rates are set forth for the month of September 2022. See Rev. Rul. 2022-17, page 182.
Section 7872.—Treatment of Loans With Below-Market Interest Rates
The applicable federal short-term, mid-term, and long-term rates are set forth for the month of September 2022. See Rev. Rul. 2022-17, page 182.
Source: official text