rr-22-17.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. 2022-1 7

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.

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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%

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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%

REV. RUL. 2022-17 TABLE 5

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Rate Under Section 7520 for September 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 3.60%