Rev. Rul. 2022-9 — 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 May 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. 2022-9 TABLE 1 Applicable Federal Rates (AFR) for May 2022 Period for Compounding

	Annual	Semiannual	Quarterly	Monthly
		Short-term
AFR	1.85%	1.84%	1.84%	1.83%
110% AFR	2.03%	2.02%	2.01%	2.01%
120% AFR	2.22%	2.21%	2.20%	2.20%
130% AFR	2.40%	2.39%	2.38%	2.38%
		Mid-term
AFR	2.51%	2.49%	2.48%	2.48%
110% AFR	2.76%	2.74%	2.73%	2.72%
120% AFR	3.01%	2.99%	2.98%	2.97%
130% AFR	3.27%	3.24%	3.23%	3.22%
150% AFR	3.77%	3.74%	3.72%	3.71%
175% AFR	4.41%	4.36%	4.34%	4.32%
		Long-term
AFR	2.66%	2.64%	2.63%	2.63%
110% AFR	2.92%	2.90%	2.89%	2.88%
120% AFR	3.20%	3.17%	3.16%	3.15%
130% AFR	3.46%	3.43%	3.42%	3.41%

REV. RUL. 2022-9 TABLE 2 Adjusted AFR for May 2022 Period for Compounding

	Annual	Semiannual	Quarterly	Monthly
Short-term adjusted AFR	1.40%	1.40%	1.40%	1.40%
Mid-term adjusted AFR	1.90%	1.89%	1.89%	1.88%
Long-term adjusted AFR	2.01%	2.00%	2.00%	1.99%

REV. RUL. 2022-9 TABLE 3 Rates Under Section 382 for May 2022

Adjusted federal long-term rate for the current month	2.01%
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.)	2.01%

REV. RUL. 2022-9 TABLE 4 Appropriate Percentages Under Section 42(b)(1) for May 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	7.60%
Appropriate percentage for the 30% present value low-income housing credit	3.26%

REV. RUL. 2022-9 TABLE 5 Rate Under Section 7520 for May 2022

Applicable federal rate for determining the present value of an annuity, an interest for life or a term of years, or a remainder or reversionary interest

3.0%