Internal Revenue Bulletin — Rulings & Guidance
Rev. Rul. 2022-8 — 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 April 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. 2022-8 TABLE 1 Applicable Federal Rates (AFR) for April 2022 Period for Compounding
| Annual | Semiannual | Quarterly | Monthly | |
|---|---|---|---|---|
| Short-term | ||||
| AFR | 1.26% | 1.26% | 1.26% | 1.26% |
| 110% AFR | 1.39% | 1.39% | 1.39% | 1.39% |
| 120% AFR | 1.52% | 1.51% | 1.51% | 1.51% |
| 130% AFR | 1.65% | 1.64% | 1.64% | 1.63% |
| Mid-term | ||||
| AFR | 1.87% | 1.86% | 1.86% | 1.85% |
| 110% AFR | 2.06% | 2.05% | 2.04% | 2.04% |
| 120% AFR | 2.24% | 2.23% | 2.22% | 2.22% |
| 130% AFR | 2.43% | 2.42% | 2.41% | 2.41% |
| 150% AFR | 2.81% | 2.79% | 2.78% | 2.77% |
| 175% AFR | 3.29% | 3.26% | 3.25% | 3.24% |
| Long-term | ||||
| AFR | 2.25% | 2.24% | 2.23% | 2.23% |
| 110% AFR | 2.48% | 2.46% | 2.45% | 2.45% |
| 120% AFR | 2.71% | 2.69% | 2.68% | 2.68% |
| 130% AFR | 2.93% | 2.91% | 2.90% | 2.89% |
REV. RUL. 2022-8 TABLE 2 Adjusted AFR for April 2022 Period for Compounding
| Annual | Semiannual | Quarterly | Monthly | |
|---|---|---|---|---|
| Short-term adjusted AFR | 0.96% | 0.96% | 0.96% | 0.96% |
| Mid-term adjusted AFR | 1.41% | 1.41% | 1.41% | 1.41% |
| Long-term adjusted AFR | 1.71% | 1.70% | 1.70% | 1.69% |
REV. RUL. 2022-8 TABLE 3 Rates Under Section 382 for April 2022
| Adjusted federal long-term rate for the current month | 1.71% |
| 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.) | 1.71% |
REV. RUL. 2022-8 TABLE 4 Appropriate Percentages Under Section 42(b)(1) for April 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 | 7.47% |
| Appropriate percentage for the 30% present value low-income housing credit | 3.20% |
Section 42.—Low-Income Housing Credit
The applicable federal short-term, mid-term, and long-term rates are set forth for the month of April 2022. See Rev. Rul. 2022-8, page 936.
Section 280G.—Golden Parachute Payments
The applicable federal short-term, mid-term, and long-term rates are set forth for the month of April 2022. See Rev. Rul. 2022-8 page 936.
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 April 2022. See Rev. Rul. 2022-8, page 936.
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 April 2022. See Rev. Rul. 2022-8, page 936.
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 April 2022. See Rev. Rul. 2022-8, page 936.
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 April 2022. See Rev. Rul. 2022-8, page 936.
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 April 2022. See Rev. Rul. 2022-8, page 936.
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 April 2022. See Rev. Rul. 2022-8, page 936.
Section 7520.—Valuation Tables
The applicable federal mid-term rates are set forth for the month of April 2022. See Rev. Rul. 2022-8, page 936.
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 April 2022. See Rev. Rul. 2022-8, page 936.
Source: official text