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 shortterm, 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%

Bulletin No. 2022–18 1041 May 2, 2022

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 2.01% long-term rates for the current month and the prior two months.)

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%

Section 42.—Low-Income Housing Credit

The applicable federal short-term, mid-term, and long-term rates are set forth for the month of May 2022. See Rev. Rul. 2022-9, page 1041.

Section 280G.—Golden Parachute Payments

The applicable federal short-term, mid-term, and long-term rates are set forth for the month of May 2022. See Rev. Rul. 2022-9 page 1041.

Section 382.—Limitation on Net Operating Loss Carryforwards and Certain Built-In Losses Following Ownership Change

The adjusted applicable federal long-term rate is set forth for the month of May 2022. See Rev. Rul. 2022-9, page 1041.

Section 467.—Certain Payments for the Use of Property or Services

The applicable federal short-term, mid-term, and long-term rates are set forth for the month of May 2022. See Rev. Rul. 2022-9, page 1041.

Section 468.—Special Rules for Mining and Solid Waste Reclamation and Closing Costs

The applicable federal short-term rates are set forth for the month of May 2022. See Rev. Rul. 2022-9, page 1041.

Section 482.—Allocation of Income and Deductions Among Taxpayers

The applicable federal short-term, mid-term, and long-term rates are set forth for the month of May 2022. See Rev. Rul. 2022-9, page 1041.

Section 483.—Interest on Certain Deferred Payments

The applicable federal short-term, mid-term, and long-term rates are set forth for the month of May 2022. See Rev. Rul. 2022-9, page 1041.

Section 1288.—Treatment of Original Issue Discount on Tax-Exempt Obligations

The adjusted applicable federal short-term, midterm, and long-term rates are set forth for the month of May 2022. See Rev. Rul. 2022-9, page 1041.

Section 7520.—Valuation Tables

The applicable federal mid-term rates are set forth for the month of May 2022. See Rev. Rul. 2022-9, page 1041.

Section 7872.—Treatment of Loans With Below- Market Interest Rates

The applicable federal short-term, mid-term, and long-term rates are set forth for the month of May 2022. See Rev. Rul. 2022-9, page 1041.

May 2, 2022 1042 Bulletin No. 2022–18