rr-22-09.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. 2022-9

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 ra te 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. 2022-9 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%

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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

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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%