rr-09-22.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, 412, 467, 468, 482, 483, 642, 807, 846, 1288, 7520,
7872.)

# Rev. Rul. 2009-22

This revenue ruling provides various prescribed rates for federal
income tax purposes for August 2009 (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 August 30, 2008, and before December 31, 2013, 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. 2009-22 TABLE 1 Applicable Federal Rates (AFR) for August 2009

Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-term

AFR

.83%

.83%

.83%

.83%

110% AFR

.91%

.91%

.91%

91%

120% AFR

1.00%

1.00%

1.00%

1.00%

130% AFR

1.08%

1.08%

1.08%

1.08%

Mid-term

AFR

2.80%

2.78%

2.77%

2.76%

110% AFR

3.08%

3.06%

3.05%

3.04%

120% AFR

3.37%

3.34%

3.33%

3.32%

130% AFR

3.64%

3.61%

3.59%

3.58%

150% AFR

4.21%

4.17%

4.15%

4.13%

175% AFR

4.93%

4.87%

4.84%

4.82%

Long-term

AFR

4.26%

4.22%

4.20%

4.18%

110% AFR

4.69%

4.64%

4.61%

4.60%

120% AFR

5.12%

5.06%

5.03%

5.01%

130% AFR

5.57%

5.49%

5.45%

5.43%

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REV. RUL. 2009-22 TABLE 2 Adjusted AFR for August 2009

Period for Compounding Annual Semiannual Quarterly Monthly

Short-term adjusted AFR

.92%

.92%

92%

.92%

Mid-term adjusted AFR

2.40%

2.39%

2.38%

2.38%

Long-term adjusted AFR

4.48%

4.43%

4.41%

4.39%

REV. RUL. 2009-22 TABLE 3
Rates Under Section 382 for August 2009

Adjusted federal long-term rate for the current month
4.48%

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.)
4.48%

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# REV. RUL. 2009-22 TABLE 4 Appropriate Percentages Under Section 42(b)(1) for August 2009

Note: Under Section 42(b)(2), the applicable percentage for non-federally
subsidized new buildings placed in service after August 30, 2008, and before
December 31, 2013, shall not be less than 9%.

REV. RUL. 2009-22 TABLE 5 Rate Under Section 7520 for August 2009

Appropriate percentage for the 70% present value low-income

housing credit

7.82%

Appropriate percentage for the 30% present value low-income

housing credit

3.35%

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
3.4%