rr-22-20.pdf

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Section 1274.--Determination of Issue Price in the Case of Certain Debt Instruments
Issued for Property

(Also Sections 42, 280G, 382, 467, 468, 482, 483, 1288, 7520, 7872.)

Rev. Rul. 2022-20

This revenue ruling provides various prescribed rates for federal income tax
purposes for November 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
sect ion 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.

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REV. RUL. 2022-20 TABLE 1

Applicable Federal Rates (AFR) for November 2022

Period for Compounding

Annual Semiannual Quarterly Monthly

Short-term

AFR 4.10% 4.06% 4.04% 4.03%
110% AFR 4.52% 4.47% 4.45% 4.43%
120% AFR 4.93% 4.87% 4.84% 4.82%
130% AFR 5.35% 5.28% 5.25% 5.22%

Mid-term

AFR 3.97% 3.93% 3.91% 3.90%
110% AFR 4.37% 4.32% 4.30% 4.28%
120% AFR 4.78% 4.72% 4.69% 4.67%
130% AFR 5.18% 5.11% 5.08% 5.06%
150% AFR 5.99% 5.90% 5.86% 5.83%
175% AFR 7.00% 6.88% 6.82% 6.78%

Long-term

AFR 3.92% 3.88% 3.86% 3.85%
110% AFR 4.32% 4.27% 4.25% 4.23%
120% AFR 4.71% 4.66% 4.63% 4.62%
130% AFR 5.10% 5.04% 5.01% 4.99%

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REV. RUL. 2022-20 TABLE 2

Adjusted AFR for November 2022

Period for Compounding

Annual Semiannual Quarterly Monthly
Short-term
adjusted AFR

3.10%

3.08%

3.07%

3.06%
Mid-term
adjusted AFR

3.00%

2.98%

2.97%

2.96%
Long-term
adjusted AFR

2.97%

2.95%

2.94%

2.93%

REV. RUL. 2022-20 TABLE 3

Rates Under Section 382 for November 2022

Adjusted federal long-term rate for the current month 2.97%
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.)

2.97%

REV. RUL. 2022-20 TABLE 4

Appropriate Percentages Under Section 42(b)(1) for November 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

7.91%
Appropriate percentage for the 30% present value low-income housing
credit

3.39%

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REV. RUL. 2022-20 TABLE 5

Rate Under Section 7520 for November 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

4.80%