Internal Revenue Bulletin: 2022-10

March 7, 2022

HIGHLIGHTS OF THIS ISSUE

These synopses are intended only as aids to the reader in identifying the subject matter covered. They may not be relied upon as authoritative interpretations.

ADMINISTRATIVE

Rev. Rul. 2022-5, page 792.

Interest rates: underpayments and overpayments. The rates for interest determined under Section 6621 of the code for the calendar quarter beginning April 1, 2022, will be 4 percent for overpayments (3 percent in the case of a corporation), 4 percent for underpayments, and 6 percent for large corporate underpayments. The rate of interest paid on the portion of a corporate overpayment exceeding $10,000 will be 1.5 percent.

26 CFR 301.6621-1: Interest rate.

EMPLOYEE PLANS

Notice 2022-9, page 811.

This notice sets forth updates on the corporate bond monthly yield curve, the corresponding spot segment rates for February 2022 used under § 417(e)(3)(D), the 24-month average segment rates applicable for February 2022, and the 30-year Treasury rates, as reflected by the application of § 430(h)(2)(C)(iv).

INCOME TAX

Notice 2022-10, page 815.

Notice 2022-10 provides for adjustments to the limitation on housing expenses for purposes of section 911 of the Internal Revenue Code for the 2022 tax year. These adjustments are made on the basis of geographic differences in housing costs relative to housing costs in the United States. If the limitation on housing expenses is higher for the 2022 tax year than the adjusted limitations on housing expenses provided in Notice 2021-18, qualified taxpayers may apply the adjusted limitations in this notice for the 2022 tax year to their 2021 tax year.

Rev. Rul. 2022-4, page 790.

Federal rates; adjusted federal rates; adjusted federal long-term rate, and the long-term tax exempt rate. For purposes of sections 382, 1274, 1288, 7872 and other sections of the Code, tables set forth the rates for March 2022.

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

The IRS Mission

Provide America’s taxpayers top-quality service by helping them understand and meet their tax responsibilities and enforce the law with integrity and fairness to all.

Introduction

The Internal Revenue Bulletin is the authoritative instrument of the Commissioner of Internal Revenue for announcing official rulings and procedures of the Internal Revenue Service and for publishing Treasury Decisions, Executive Orders, Tax Conventions, legislation, court decisions, and other items of general interest. It is published weekly.

It is the policy of the Service to publish in the Bulletin all substantive rulings necessary to promote a uniform application of the tax laws, including all rulings that supersede, revoke, modify, or amend any of those previously published in the Bulletin. All published rulings apply retroactively unless otherwise indicated. Procedures relating solely to matters of internal management are not published; however, statements of internal practices and procedures that affect the rights and duties of taxpayers are published.

Revenue rulings represent the conclusions of the Service on the application of the law to the pivotal facts stated in the revenue ruling. In those based on positions taken in rulings to taxpayers or technical advice to Service field offices, identifying details and information of a confidential nature are deleted to prevent unwarranted invasions of privacy and to comply with statutory requirements.

Rulings and procedures reported in the Bulletin do not have the force and effect of Treasury Department Regulations, but they may be used as precedents. Unpublished rulings will not be relied on, used, or cited as precedents by Service personnel in the disposition of other cases. In applying published rulings and procedures, the effect of subsequent legislation, regulations, court decisions, rulings, and procedures must be considered, and Service personnel and others concerned are cautioned against reaching the same conclusions in other cases unless the facts and circumstances are substantially the same.

The Bulletin is divided into four parts as follows:

Part I.—1986 Code. This part includes rulings and decisions based on provisions of the Internal Revenue Code of 1986.

Part II.—Treaties and Tax Legislation. This part is divided into two subparts as follows: Subpart A, Tax Conventions and Other Related Items, and Subpart B, Legislation and Related Committee Reports.

Part III.—Administrative, Procedural, and Miscellaneous. To the extent practicable, pertinent cross references to these subjects are contained in the other Parts and Subparts. Also included in this part are Bank Secrecy Act Administrative Rulings. Bank Secrecy Act Administrative Rulings are issued by the Department of the Treasury’s Office of the Assistant Secretary (Enforcement).

Part IV.—Items of General Interest. This part includes notices of proposed rulemakings, disbarment and suspension lists, and announcements.

The last Bulletin for each month includes a cumulative index for the matters published during the preceding months. These monthly indexes are cumulated on a semiannual basis, and are published in the last Bulletin of each semiannual period.

Part I

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

Rev. Rul. 2022-4

This revenue ruling provides various prescribed rates for federal income tax purposes for March 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.

REV. RUL. 2022-4 TABLE 1 Applicable Federal Rates (AFR) for March 2022

Period for Compounding
Annual Semiannual Quarterly Monthly
    Short-term    
AFR 0.97% 0.97% 0.97% 0.97%
110% AFR 1.07% 1.07% 1.07% 1.07%
120% AFR 1.16% 1.16% 1.16% 1.16%
130% AFR 1.26% 1.26% 1.26% 1.26%
    Mid-term    
AFR 1.74% 1.73% 1.73% 1.72%
110% AFR 1.91% 1.90% 1.90% 1.89%
120% AFR 2.09% 2.08% 2.07% 2.07%
130% AFR 2.26% 2.25% 2.24% 2.24%
150% AFR 2.62% 2.60% 2.59% 2.59%
175% AFR 3.05% 3.03% 3.02% 3.01%
    Long-term    
AFR 2.14% 2.13% 2.12% 2.12%
110% AFR 2.35% 2.34% 2.33% 2.33%
120% AFR 2.58% 2.56% 2.55% 2.55%
130% AFR 2.79% 2.77% 2.76% 2.75%
 

REV. RUL. 2022-4 TABLE 2 Adjusted AFR for March 2022

Period for Compounding
Annual Semiannual Quarterly Monthly
Short-term adjusted AFR 0.74% 0.74% 0.74% 0.74%
Mid-term adjusted AFR 1.31% 1.31% 1.31% 1.31%
Long-term adjusted AFR 1.63% 1.62% 1.62% 1.61%
 

REV. RUL. 2022-4 TABLE 3 Rates Under Section 382 for March 2022

Adjusted federal long-term rate for the current month 1.63%
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.) 1.63%
 

REV. RUL. 2022-4 TABLE 4 Appropriate Percentages Under Section 42(b)(1) for March 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 7.44%
Appropriate percentage for the 30% present value low-income housing credit 3.19%
 

REV. RUL. 2022-4 TABLE 5 Rate Under Section 7520 for March 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 2.0%

Section 42.—Low-Income Housing Credit

The applicable federal short-term, mid-term, and long-term rates are set forth for the month of March 2022. See Rev. Rul. 2022-4,page 790.

Section 280G.—Golden Parachute Payments

The applicable federal short-term, mid-term, and long-term rates are set forth for the month of March 2022. See Rev. Rul. 2022-4,page 790.

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 March 2022. See Rev. Rul. 2022-4,page 790.

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 March 2022. See Rev. Rul. 2022-4,page 790.

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 March 2022. See Rev. Rul. 2022-4,page 790.

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 March 2022. See Rev. Rul. 2022-4,page 790.

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 March 2022. See Rev. Rul. 2022-4,page 790.

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

The adjusted applicable federal short-term, mid-term, and long-term rates are set forth for the month of March 2022. See Rev. Rul. 2022-4,page 790.

Section 7520.—Valuation Tables

The applicable federal mid-term rates are set forth for the month of March 2022. See Rev. Rul. 2022-4,page 790.

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 March 2022. See Rev. Rul. 2022-4,page 790.

Section 6621.—Determination of Rate of Interest

Rev. Rul. 2022-05

Section 6621 of the Internal Revenue Code establishes the interest rates on overpayments and underpayments of tax. Under section 6621(a)(1), the overpayment rate is the sum of the federal short-term rate plus 3 percentage points (2 percentage points in the case of a corporation), except the rate for the portion of a corporate overpayment of tax exceeding $10,000 for a taxable period is the sum of the federal short-term rate plus 0.5 of a percentage point. Under section 6621(a)(2), the underpayment rate is the sum of the federal short-term rate plus 3 percentage points.

Section 6621(c) provides that for purposes of interest payable under section 6601 on any large corporate underpayment, the underpayment rate under section 6621(a)(2) is determined by substituting “5 percentage points” for “3 percentage points.” See section 6621(c) and section 301.6621-3 of the Regulations on Procedure and Administration for the definition of a large corporate underpayment and for the rules for determining the applicable date. Section 6621(c) and section 301.6621-3 are generally effective for periods after December 31, 1990.

Section 6621(b)(1) provides that the Secretary will determine the federal short-term rate for the first month in each calendar quarter. Section 6621(b)(2)(A) provides that the federal short-term rate determined under section 6621(b)(1) for any month applies during the first calendar quarter beginning after that month. Section 6621(b)(3) provides that the federal short-term rate for any month is the federal short-term rate determined during that month by the Secretary in accordance with section 1274(d), rounded to the nearest full percent (or, if a multiple of 1/2 of 1 percent, the rate is increased to the next highest full percent).

Notice 88-59, 1988-1 C.B. 546, announced that in determining the quarterly interest rates to be used for overpayments and underpayments of tax under section 6621, the Internal Revenue Service will use the federal short-term rate based on daily compounding because that rate is most consistent with section 6621 which, pursuant to section 6622, is subject to daily compounding.

The federal short-term rate determined in accordance with section 1274(d) during January 2022 is the rate published in Revenue Ruling 2022-03, 2022-06 IRB 467, to take effect beginning February 1, 2022. The federal short-term rate, rounded to the nearest full percent, based on daily compounding determined during the month of January 2022 is 1 percent. Accordingly, an overpayment rate of 4 percent (3 percent in the case of a corporation) and an underpayment rate of 4 percent are established for the calendar quarter beginning April 1, 2022. The overpayment rate for the portion of a corporate overpayment exceeding $10,000 for the calendar quarter beginning April 1, 2022 is 1.5 percent. The underpayment rate for large corporate underpayments for the calendar quarter beginning April 1, 2022, is 6 percent. These rates apply to amounts bearing interest during that calendar quarter.

Sections 6654(a)(1) and 6655(a)(1) provide that the underpayment rate established under section 6621 applies in determining the addition to tax under sections 6654 and 6655 for failure to pay estimated tax for any taxable year. Thus, the 4 percent rate also applies to estimated tax underpayments for the second calendar quarter beginning April 1, 2022. Pursuant to section 6621(b)(2)(B), in determining the addition to tax under section 6654 for any taxable year for an individual, the federal short-term rate that applies during the third month following the taxable year also applies during the first 15 days of the fourth month following the taxable year. See Rev. Rul. 2021-24, 2021-50 IRB 850 (3 percent rate for the first quarter of 2022). In addition, pursuant to section 6603(d)(4), the rate of interest on section 6603 deposits is 1 percent for the second calendar quarter in 2022.

Interest factors for daily compound interest for annual rates of 1.5 percent,3 percent, 4 percent and 6 percent are published in Tables 8, 11, 13 and 17 of Rev. Proc. 95-17, 1995-1 C.B. 562, 565, 567, and 571.

Annual interest rates to be compounded daily pursuant to section 6622 that apply for prior periods are set forth in the tables accompanying this revenue ruling.

DRAFTING INFORMATION

The principal author of this revenue ruling is Casey R. Conrad of the Office of the Associate Chief Counsel (Procedure and Administration). For further information regarding this revenue ruling, contact Mr. Conrad at (202) 317-6844 (not a toll-free number).

APPENDIX A

365 Day Year
0.5% Compound Rate 184 Days
Days Factor Days Factor Days Factor
1 0.000013699 63 0.000863380 125 0.001713784
2 0.000027397 64 0.000877091 126 0.001727506
3 0.000041096 65 0.000890801 127 0.001741228
4 0.000054796 66 0.000904512 128 0.001754951
5 0.000068495 67 0.000918223 129 0.001768673
6 0.000082195 68 0.000931934 130 0.001782396
7 0.000095894 69 0.000945646 131 0.001796119
8 0.000109594 70 0.000959357 132 0.001809843
9 0.000123294 71 0.000973069 133 0.001823566
10 0.000136995 72 0.000986781 134 0.001837290
11 0.000150695 73 0.001000493 135 0.001851013
12 0.000164396 74 0.001014206 136 0.001864737
13 0.000178097 75 0.001027918 137 0.001878462
14 0.000191798 76 0.001041631 138 0.001892186
15 0.000205499 77 0.001055344 139 0.001905910
16 0.000219201 78 0.001069057 140 0.001919635
17 0.000232902 79 0.001082770 141 0.001933360
18 0.000246604 80 0.001096484 142 0.001947085
19 0.000260306 81 0.001110197 143 0.001960811
20 0.000274008 82 0.001123911 144 0.001974536
21 0.000287711 83 0.001137625 145 0.001988262
22 0.000301413 84 0.001151339 146 0.002001988
23 0.000315116 85 0.001165054 147 0.002015714
24 0.000328819 86 0.001178768 148 0.002029440
25 0.000342522 87 0.001192483 149 0.002043166
26 0.000356225 88 0.001206198 150 0.002056893
27 0.000369929 89 0.001219913 151 0.002070620
28 0.000383633 90 0.001233629 152 0.002084347
29 0.000397336 91 0.001247344 153 0.002098074
30 0.000411041 92 0.001261060 154 0.002111801
31 0.000424745 93 0.001274776 155 0.002125529
32 0.000438449 94 0.001288492 156 0.002139257
33 0.000452154 95 0.001302208 157 0.002152985
34 0.000465859 96 0.001315925 158 0.002166713
35 0.000479564 97 0.001329641 159 0.002180441
36 0.000493269 98 0.001343358 160 0.002194169
37 0.000506974 99 0.001357075 161 0.002207898
38 0.000520680 100 0.001370792 162 0.002221627
39 0.000534386 101 0.001384510 163 0.002235356
40 0.000548092 102 0.001398227 164 0.002249085
41 0.000561798 103 0.001411945 165 0.002262815
42 0.000575504 104 0.001425663 166 0.002276544
43 0.000589211 105 0.001439381 167 0.002290274
44 0.000602917 106 0.001453100 168 0.002304004
45 0.000616624 107 0.001466818 169 0.002317734
46 0.000630331 108 0.001480537 170 0.002331465
47 0.000644039 109 0.001494256 171 0.002345195
48 0.000657746 110 0.001507975 172 0.002358926
49 0.000671454 111 0.001521694 173 0.002372657
50 0.000685161 112 0.001535414 174 0.002386388
51 0.000698869 113 0.001549133 175 0.002400120
52 0.000712578 114 0.001562853 176 0.002413851
53 0.000726286 115 0.001576573 177 0.002427583
54 0.000739995 116 0.001590293 178 0.002441315
55 0.000753703 117 0.001604014 179 0.002455047
56 0.000767412 118 0.001617734 180 0.002468779
57 0.000781121 119 0.001631455 181 0.002482511
58 0.000794831 120 0.001645176 182 0.002496244
59 0.000808540 121 0.001658897 183 0.002509977
60 0.000822250 122 0.001672619 184 0.002523710
61 0.000835960 123 0.001686340    
62 0.000849670 124 0.001700062    
 

366 Day Year
0.5% Compound Rate 184 Days
Days Factor Days Factor Days Factor
1 0.000013661 63 0.000861020 125 0.001709097
2 0.000027323 64 0.000874693 126 0.001722782
3 0.000040984 65 0.000888366 127 0.001736467
4 0.000054646 66 0.000902040 128 0.001750152
5 0.000068308 67 0.000915713 129 0.001763837
6 0.000081970 68 0.000929387 130 0.001777522
7 0.000095632 69 0.000943061 131 0.001791208
8 0.000109295 70 0.000956735 132 0.001804893
9 0.000122958 71 0.000970409 133 0.001818579
10 0.000136620 72 0.000984084 134 0.001832265
11 0.000150283 73 0.000997758 135 0.001845951
12 0.000163947 74 0.001011433 136 0.001859638
13 0.000177610 75 0.001025108 137 0.001873324
14 0.000191274 76 0.001038783 138 0.001887011
15 0.000204938 77 0.001052459 139 0.001900698
16 0.000218602 78 0.001066134 140 0.001914385
17 0.000232266 79 0.001079810 141 0.001928073
18 0.000245930 80 0.001093486 142 0.001941760
19 0.000259595 81 0.001107162 143 0.001955448
20 0.000273260 82 0.001120839 144 0.001969136
21 0.000286924 83 0.001134515 145 0.001982824
22 0.000300590 84 0.001148192 146 0.001996512
23 0.000314255 85 0.001161869 147 0.002010201
24 0.000327920 86 0.001175546 148 0.002023889
25 0.000341586 87 0.001189223 149 0.002037578
26 0.000355252 88 0.001202900 150 0.002051267
27 0.000368918 89 0.001216578 151 0.002064957
28 0.000382584 90 0.001230256 152 0.002078646
29 0.000396251 91 0.001243934 153 0.002092336
30 0.000409917 92 0.001257612 154 0.002106025
31 0.000423584 93 0.001271291 155 0.002119715
32 0.000437251 94 0.001284969 156 0.002133405
33 0.000450918 95 0.001298648 157 0.002147096
34 0.000464586 96 0.001312327 158 0.002160786
35 0.000478253 97 0.001326006 159 0.002174477
36 0.000491921 98 0.001339685 160 0.002188168
37 0.000505589 99 0.001353365 161 0.002201859
38 0.000519257 100 0.001367044 162 0.002215550
39 0.000532925 101 0.001380724 163 0.002229242
40 0.000546594 102 0.001394404 164 0.002242933
41 0.000560262 103 0.001408085 165 0.002256625
42 0.000573931 104 0.001421765 166 0.002270317
43 0.000587600 105 0.001435446 167 0.002284010
44 0.000601269 106 0.001449127 168 0.002297702
45 0.000614939 107 0.001462808 169 0.002311395
46 0.000628608 108 0.001476489 170 0.002325087
47 0.000642278 109 0.001490170 171 0.002338780
48 0.000655948 110 0.001503852 172 0.002352473
49 0.000669618 111 0.001517533 173 0.002366167
50 0.000683289 112 0.001531215 174 0.002379860
51 0.000696959 113 0.001544897 175 0.002393554
52 0.000710630 114 0.001558580 176 0.002407248
53 0.000724301 115 0.001572262 177 0.002420942
54 0.000737972 116 0.001585945 178 0.002434636
55 0.000751643 117 0.001599628 179 0.002448331
56 0.000765315 118 0.001613311 180 0.002462025
57 0.000778986 119 0.001626994 181 0.002475720
58 0.000792658 120 0.001640678 182 0.002489415
59 0.000806330 121 0.001654361 183 0.002503110
60 0.000820003 122 0.001668045 184 0.002516806
61 0.000833675 123 0.001681729    
62 0.000847348 124 0.001695413    
 

TABLE OF INTEREST RATES PERIODS BEFORE JUL. 1, 1975 - PERIODS ENDING DEC. 31, 1986 OVERPAYMENTS AND UNDERPAYMENTS

PERIOD RATE In 1995-1 C.B. DAILY RATE TABLE
Before   Jul. 1, 1975 6% Table 2, pg. 557
Jul. 1, 1975–Jan. 31, 1976 9% Table 4, pg. 559
Feb. 1, 1976–Jan. 31, 1978 7% Table 3, pg. 558
Feb. 1, 1978–Jan. 31, 1980 6% Table 2, pg. 557
Feb. 1, 1980–Jan. 31, 1982 12% Table 5, pg. 560
Feb. 1, 1982–Dec. 31, 1982 20% Table 6, pg. 560
Jan. 1, 1983–Jun. 30, 1983 16% Table 37, pg. 591
Jul. 1, 1983–Dec. 31, 1983 11% Table 27, pg. 581
Jan. 1, 1984–Jun. 30, 1984 11% Table 75, pg. 629
Jul. 1, 1984–Dec. 31, 1984 11% Table 75, pg. 629
Jan. 1, 1985–Jun. 30, 1985 13% Table 31, pg. 585
Jul. 1, 1985–Dec. 31, 1985 11% Table 27, pg. 581
Jan. 1, 1986–Jun. 30, 1986 10% Table 25, pg. 579
Jul. 1, 1986–Dec. 31, 1986 9% Table 23, pg. 577
 

TABLE OF INTEREST RATES FROM JAN. 1, 1987 – Dec. 31, 1998

OVERPAYMENTS UNDERPAYMENTS
1995-1 C.B. 1995-1 C.B. RATE
RATE TABLE PG RATE TABLE PG
Jan. 1, 1987–Mar. 31, 1987 8% 21 575 9% 23 577
Apr. 1, 1987–Jun. 30, 1987 8% 21 575 9% 23 577
Jul. 1, 1987–Sep. 30, 1987 8% 21 575 9% 23 577
Oct. 1, 1987–Dec. 31, 1987 9% 23 577 10% 25 579
Jan. 1, 1988–Mar. 31, 1988 10% 73 627 11% 75 629
Apr. 1, 1988–Jun. 30, 1988 9% 71 625 10% 73 627
Jul. 1, 1988–Sep. 30, 1988 9% 71 625 10% 73 627
Oct. 1, 1988–Dec. 31, 1988 10% 73 627 11% 75 629
Jan. 1, 1989–Mar. 31, 1989 10% 25 579 11% 27 581
Apr. 1, 1989–Jun. 30, 1989 11% 27 581 12% 29 583
Jul. 1, 1989–Sep. 30, 1989 11% 27 581 12% 29 583
Oct. 1, 1989–Dec. 31, 1989 10% 25 579 11% 27 581
Jan. 1, 1990–Mar. 31, 1990 10% 25 579 11% 27 581
Apr. 1, 1990–Jun. 30, 1990 10% 25 579 11% 27 581
Jul. 1, 1990–Sep. 30, 1990 10% 25 579 11% 27 581
Oct. 1, 1990–Dec. 31, 1990 10% 25 579 11% 27 581
Jan. 1, 1991–Mar. 31, 1991 10% 25 579 11% 27 581
Apr. 1, 1991–Jun. 30, 1991 9% 23 577 10% 25 579
Jul. 1, 1991–Sep. 30, 1991 9% 23 577 10% 25 579
Oct. 1, 1991–Dec. 31, 1991 9% 23 577 10% 25 579
Jan. 1, 1992–Mar. 31, 1992 8% 69 623 9% 71 625
Apr. 1, 1992–Jun. 30, 1992 7% 67 621 8% 69 623
Jul. 1, 1992–Sep. 30, 1992 7% 67 621 8% 69 623
Oct. 1, 1992–Dec. 31, 1992 6% 65 619 7% 67 621
Jan. 1, 1993–Mar. 31, 1993 6% 17 571 7% 19 573
Apr. 1, 1993–Jun. 30, 1993 6% 17 571 7% 19 573
Jul. 1, 1993–Sep. 30, 1993 6% 17 571 7% 19 573
Oct. 1, 1993–Dec. 31, 1993 6% 17 571 7% 19 573
Jan. 1, 1994–Mar. 31, 1994 6% 17 571 7% 19 573
Apr. 1, 1994–Jun. 30, 1994 6% 17 571 7% 19 573
Jul. 1, 1994–Sep. 30, 1994 7% 19 573 8% 21 575
Oct. 1, 1994–Dec. 31, 1994 8% 21 575 9% 23 577
Jan. 1, 1995–Mar. 31, 1995 8% 21 575 9% 23 577
Apr. 1, 1995–Jun. 30, 1995 9% 23 577 10% 25 579
Jul. 1, 1995–Sep. 30, 1995 8% 21 575 9% 23 577
Oct. 1, 1995–Dec. 31, 1995 8% 21 575 9% 23 577
Jan. 1, 1996–Mar. 31, 1996 8% 69 623 9% 71 625
Apr. 1, 1996–Jun. 30, 1996 7% 67 621 8% 69 623
Jul. 1, 1996–Sep. 30, 1996 8% 69 623 9% 71 625
Oct. 1, 1996–Dec. 31, 1996 8% 69 623 9% 71 625
Jan. 1, 1997–Mar. 31, 1997 8% 21 575 9% 23 577
Apr. 1, 1997–Jun. 30, 1997 8% 21 575 9% 23 577
Jul. 1, 1997–Sep. 30, 1997 8% 21 575 9% 23 577
Oct. 1, 1997–Dec. 31, 1997 8% 21 575 9% 23 577
Jan. 1, 1998–Mar. 31, 1998 8% 21 575 9% 23 577
Apr. 1, 1998–Jun. 30, 1998 7% 19 573 8% 21 575
Jul. 1, 1998–Sep. 30, 1998 7% 19 573 8% 21 575
Oct. 1, 1998–Dec. 31, 1998 7% 19 573 8% 21 575
 

TABLE OF INTEREST RATES FROM JANUARY 1, 1999 - PRESENT NONCORPORATE OVERPAYMENTS AND UNDERPAYMENTS

1995-1 C.B.
RATE TABLE PAGE
Jan. 1, 1999–Mar. 31, 1999 7% 19 573
Apr. 1, 1999–Jun. 30, 1999 8% 21 575
Jul. 1, 1999–Sep. 30, 1999 8% 21 575
Oct. 1, 1999–Dec. 31, 1999 8% 21 575
Jan. 1, 2000–Mar. 31, 2000 8% 69 623
Apr. 1, 2000–Jun. 30, 2000 9% 71 625
Jul. 1, 2000–Sep. 30, 2000 9% 71 625
Oct. 1, 2000–Dec. 31, 2000 9% 71 625
Jan. 1, 2001–Mar. 31, 2001 9% 23 577
Apr. 1, 2001–Jun. 30, 2001 8% 21 575
Jul. 1, 2001–Sep. 30, 2001 7% 19 573
Oct. 1, 2001–Dec. 31, 2001 7% 19 573
Jan. 1, 2002–Mar. 31, 2002 6% 17 571
Apr. 1, 2002–Jun. 30, 2002 6% 17 571
Jul. 1, 2002–Sep. 30, 2002 6% 17 571
Oct. 1, 2002–Dec. 31, 2002 6% 17 571
Jan. 1, 2003–Mar. 31, 2003 5% 15 569
Apr. 1, 2003–Jun. 30, 2003 5% 15 569
Jul. 1, 2003–Sep. 30, 2003 5% 15 569
Oct. 1, 2003–Dec. 31, 2003 4% 13 567
Jan. 1, 2004–Mar. 31, 2004 4% 61 615
Apr. 1, 2004–Jun. 30, 2004 5% 63 617
Jul. 1, 2004–Sep. 30, 2004 4% 61 615
Oct. 1, 2004–Dec. 31, 2004 5% 63 617
Jan. 1, 2005–Mar. 31, 2005 5% 15 569
Apr. 1, 2005–Jun. 30, 2005 6% 17 571
Jul. 1, 2005–Sep. 30, 2005 6% 17 571
Oct. 1, 2005–Dec. 31, 2005 7% 19 573
Jan. 1, 2006–Mar. 31, 2006 7% 19 573
Apr. 1, 2006–Jun. 30, 2006 7% 19 573
Jul. 1, 2006–Sep. 30, 2006 8% 21 575
Oct. 1, 2006–Dec. 31, 2006 8% 21 575
Jan. 1, 2007–Mar. 31, 2007 8% 21 575
Apr. 1, 2007–Jun. 30, 2007 8% 21 575
Jul. 1, 2007–Sep. 30, 2007 8% 21 575
Oct. 1, 2007–Dec. 31, 2007 8% 21 575
Jan. 1, 2008–Mar. 31, 2008 7% 67 621
Apr. 1, 2008–Jun. 30, 2008 6% 65 619
Jul. 1, 2008–Sep. 30, 2008 5% 63 617
Oct. 1, 2008–Dec. 31, 2008 6% 65 619
Jan. 1, 2009–Mar. 31, 2009 5% 15 569
Apr. 1, 2009–Jun. 30, 2009 4% 13 567
Jul. 1, 2009–Sep. 30, 2009 4% 13 567
Oct. 1, 2009–Dec. 31, 2009 4% 13 567
Jan. 1, 2010–Mar. 31, 2010 4% 13 567
Apr. 1, 2010–Jun. 30, 2010 4% 13 567
Jul. 1, 2010–Sep. 30, 2010 4% 13 567
Oct. 1, 2010–Dec. 31, 2010 4% 13 567
Jan. 1, 2011–Mar. 31, 2011 3% 11 565
Apr. 1, 2011–Jun. 30, 2011 4% 13 567
Jul. 1, 2011–Sep. 30, 2011 4% 13 567
Oct. 1, 2011–Dec. 31, 2011 3% 11 565
Jan. 1, 2012–Mar. 31, 2012 3% 59 613
Apr. 1, 2012–Jun. 30, 2012 3% 59 613
Jul. 1, 2012–Sep. 30, 2012 3% 59 613
Oct. 1, 2012–Dec. 31, 2012 3% 59 613
Jan. 1, 2013–Mar. 31, 2013 3% 11 565
Apr. 1, 2013–Jun. 30, 2013 3% 11 565
Jul. 1, 2013–Sep. 30, 2013 3% 11 565
Oct. 1, 2013–Dec. 31, 2013 3% 11 565
Jan. 1, 2014–Mar. 31, 2014 3% 11 565
Apr. 1, 2014–Jun. 30, 2014 3% 11 565
Jul. 1, 2014–Sep. 30, 2014 3% 11 565
Oct. 1, 2014–Dec. 31, 2014 3% 11 565
Jan. 1, 2015–Mar. 31, 2015 3% 11 565
Apr. 1, 2015–Jun. 30, 2015 3% 11 565
Jul. 1, 2015–Sep. 30, 2015 3% 11 565
Oct. 1. 2015–Dec. 31, 2015 3% 11 565
Jan. 1, 2016–Mar. 31, 2016 3% 59 613
Apr. 1, 2016–Jun. 30, 2016 4% 61 615
Jul. 1, 2016–Sep. 30, 2016 4% 61 615
Oct. 1, 2016–Dec. 31, 2016 4% 61 615
Jan. 1, 2017–Mar. 31, 2017 4% 13 567
Apr. 1, 2017–Jun. 30, 2017 4% 13 567
Jul. 1, 2017–Sep. 30, 2017 4% 13 567
Oct. 1, 2017–Dec. 31, 2017 4% 13 567
Jan. 1, 2018–Mar. 31, 2018 4% 13 567
Apr. 1, 2018–Jun. 30, 2018 5% 15 569
Jul. 1, 2018–Sep. 30, 2018 5% 15 569
Oct. 1, 2018–Dec. 31, 2018 5% 15 569
Jan. 1, 2019–Mar. 31, 2019 6% 17 571
Apr. 1, 2019–Jun. 30, 2019 6% 17 571
Jul. 1, 2019–Sep. 30, 2019 5% 15 569
Oct. 1, 2019–Dec. 31, 2019 5% 15 569
Jan. 1, 2020–Mar. 31, 2020 5% 63 617
Apr. 1, 2020–Jun. 30, 2020 5% 63 617
Jul. 1, 2020–Sep. 30, 2020 3% 59 613
Oct. 1, 2020–Dec. 31, 2020 3% 59 613
Jan. 1, 2021–Mar. 31, 2021 3% 11 565
Apr. 1, 2021–Jun. 30, 2021 3% 11 565
Jul. 1, 2021–Sep. 30, 2021 3% 11 565
Oct. 1, 2021–Dec. 31, 2021 3% 11 565
Jan. 1, 2022–Mar. 31, 2022 3% 11 565
Apr. 1, 2022–Jun. 30, 2022 4% 13 567
 

TABLE OF INTEREST RATES FROM JANUARY 1, 1999 - PRESENT CORPORATE OVERPAYMENTS AND UNDERPAYMENTS

OVERPAYMENTS UNDERPAYMENTS
1995-1 C.B. 1995-1 C.B.
RATE TABLE PG RATE TABLE PG
Jan. 1, 1999–Mar. 31, 1999 6% 17 571 7% 19 573
Apr. 1, 1999–Jun. 30, 1999 7% 19 573 8% 21 575
Jul. 1, 1999–Sep. 30, 1999 7% 19 573 8% 21 575
Oct. 1, 1999–Dec. 31, 1999 7% 19 573 8% 21 575
Jan. 1, 2000–Mar. 31, 2000 7% 67 621 8% 69 623
Apr. 1, 2000–Jun. 30, 2000 8% 69 623 9% 71 625
Jul. 1, 2000–Sep. 30, 2000 8% 69 623 9% 71 625
Oct. 1, 2000–Dec. 31, 2000 8% 69 623 9% 71 625
Jan. 1, 2001–Mar. 31, 2001 8% 21 575 9% 23 577
Apr. 1, 2001–Jun. 30, 2001 7% 19 573 8% 21 575
Jul. 1, 2001–Sep. 30, 2001 6% 17 571 7% 19 573
Oct. 1, 2001–Dec. 31, 2001 6% 17 571 7% 19 573
Jan. 1, 2002–Mar. 31, 2002 5% 15 569 6% 17 571
Apr. 1, 2002–Jun. 30, 2002 5% 15 569 6% 17 571
Jul. 1, 2002–Sep. 30, 2002 5% 15 569 6% 17 571
Oct. 1, 2002–Dec. 31, 2002 5% 15 569 6% 17 571
Jan. 1, 2003–Mar. 31, 2003 4% 13 567 5% 15 569
Apr. 1, 2003–Jun. 30, 2003 4% 13 567 5% 15 569
Jul. 1, 2003–Sep. 30, 2003 4% 13 567 5% 15 569
Oct. 1, 2003–Dec. 31, 2003 3% 11 565 4% 13 567
Jan. 1, 2004–Mar. 31, 2004 3% 59 613 4% 61 615
Apr. 1, 2004–Jun. 30, 2004 4% 61 615 5% 63 617
Jul. 1, 2004–Sep. 30, 2004 3% 59 613 4% 61 615
Oct. 1, 2004–Dec. 31, 2004 4% 61 615 5% 63 617
Jan. 1, 2005–Mar. 31, 2005 4% 13 567 5% 15 569
Apr. 1, 2005–Jun. 30, 2005 5% 15 569 6% 17 571
Jul. 1, 2005–Sep. 30, 2005 5% 15 569 6% 17 571
Oct. 1, 2005–Dec. 31, 2005 6% 17 571 7% 19 573
Jan. 1, 2006–Mar. 31, 2006 6% 17 571 7% 19 573
Apr. 1, 2006–Jun. 30, 2006 6% 17 571 7% 19 573
Jul. 1, 2006–Sep. 30, 2006 7% 19 573 8% 21 575
Oct. 1, 2006–Dec. 31, 2006 7% 19 573 8% 21 575
Jan. 1, 2007–Mar. 31, 2007 7% 19 573 8% 21 575
Apr. 1, 2007–Jun. 30, 2007 7% 19 573 8% 21 575
Jul. 1, 2007–Sep. 30, 2007 7% 19 573 8% 21 575
Oct. 1, 2007–Dec. 31, 2007 7% 19 573 8% 21 575
Jan. 1, 2008–Mar. 31, 2008 6% 65 619 7% 67 621
Apr. 1, 2008–Jun. 30, 2008 5% 63 617 6% 65 619
Jul. 1, 2008–Sep. 30, 2008 4% 61 615 5% 63 617
Oct. 1, 2008–Dec. 31, 2008 5% 63 617 6% 65 619
Jan. 1, 2009–Mar. 31, 2009 4% 13 567 5% 15 569
Apr. 1, 2009–Jun. 30, 2009 3% 11 565 4% 13 567
Jul. 1, 2009–Sep. 30, 2009 3% 11 565 4% 13 567
Oct. 1, 2009–Dec. 31, 2009 3% 11 565 4% 13 567
Jan. 1, 2010–Mar. 31, 2010 3% 11 565 4% 13 567
Apr. 1, 2010–Jun. 30, 2010 3% 11 565 4% 13 567
Jul. 1, 2010–Sep. 30, 2010 3% 11 565 4% 13 567
Oct. 1, 2010–Dec. 31, 2010 3% 11 565 4% 13 567
Jan. 1, 2011–Mar. 31, 2011 2% 9 563 3% 11 565
Apr. 1, 2011–Jun. 30, 2011 3% 11 565 4% 13 567
Jul. 1, 2011–Sep. 30, 2011 3% 11 565 4% 13 567
Oct. 1, 2011–Dec. 31, 2011 2% 9 563 3% 11 565
Jan. 1, 2012–Mar. 31, 2012 2% 57 611 3% 59 613
Apr. 1, 2012–Jun. 30, 2012 2% 57 611 3% 59 613
Jul. 1, 2012–Sep. 30, 2012 2% 57 611 3% 59 613
Oct. 1, 2012–Dec. 31, 2012 2% 57 611 3% 59 613
Jan. 1, 2013–Mar. 31, 2013 2% 9 563 3% 11 565
Apr. 1, 2013–Jun. 30, 2013 2% 9 563 3% 11 565
Jul. 1, 2013–Sep. 30, 2013 2% 9 563 3% 11 565
Oct. 1, 2013–Dec. 31, 2013 2% 9 563 3% 11 565
Jan. 1, 2014–Mar. 31, 2014 2% 9 563 3% 11 565
Apr. 1, 2014–Jun. 30, 2014 2% 9 563 3% 11 565
Jul. 1, 2014–Sep. 30, 2014 2% 9 563 3% 11 565
Oct. 1, 2014–Dec. 31, 2014 2% 9 563 3% 11 565
Jan. 1, 2015–Mar. 31, 2015 2% 9 563 3% 11 565
Apr. 1, 2015–Jun. 30, 2015 2% 9 563 3% 11 565
Jul. 1, 2015–Sep. 30, 2015 2% 9 563 3% 11 565
Oct. 1, 2015–Dec. 31, 2015 2% 9 563 3% 11 565
Jan. 1, 2016–Mar. 31, 2016 2% 57 611 3% 59 613
Apr. 1, 2016–Jun. 30, 2016 3% 59 613 4% 61 615
Jul. 1, 2016–Sep. 30, 2016 3% 59 613 4% 61 615
Oct. 1, 2016–Dec. 31, 2016 3% 59 613 4% 61 615
Jan. 1, 2017–Mar. 31, 2017 3% 11 565 4% 13 567
Apr. 1, 2017–Jun. 30, 2017 3% 11 565 4% 13 567
Jul. 1, 2017–Sep. 30, 2017 3% 11 565 4% 13 567
Oct. 1, 2017–Dec. 31, 2017 3% 11 565 4% 13 567
Jan. 1, 2018–Mar. 31, 2018 3% 11 565 4% 13 567
Apr. 1, 2018–Jun. 30, 2018 4% 13 567 5% 15 569
Jul. 1, 2018–Sep. 30, 2018 4% 13 567 5% 15 569
Oct. 1, 2018–Dec. 31, 2018 4% 13 567 5% 15 569
Jan. 1, 2019–Mar. 31, 2019 5% 15 569 6% 17 571
Apr. 1, 2019–Jun. 30, 2019 5% 15 569 6% 17 571
Jul. 1, 2019–Sep. 30, 2019 4% 13 567 5% 15 569
Oct. 1, 2019–Dec. 31, 2019 4% 13 567 5% 15 569
Jan. 1, 2020–Mar. 31, 2020 4% 61 615 5% 63 617
Apr. 1, 2020–Jun. 30, 2020 4% 61 615 5% 63 617
Jul. 1, 2020–Sep. 30, 2020 2% 57 611 3% 59 613
Oct. 1, 2020–Dec. 31, 2020 2% 57 611 3% 59 613
Jan. 1, 2021–Mar. 31, 2021 2% 9 563 3% 11 565
Apr. 1, 2021–Jun. 30, 2021 2% 9 563 3% 11 565
Jul. 1, 2021–Sep. 30, 2021 2% 9 563 3% 11 565
Oct. 1, 2021–Dec. 31, 2021 2% 9 563 3% 11 565
Jan. 1, 2022–Mar. 31, 2022 2% 9 563 3% 11 565
Apr. 1, 2022–Jun. 30, 2022 3% 11 565 4% 13 567
 

TABLE OF INTEREST RATES FOR LARGE CORPORATE UNDERPAYMENTS FROM JANUARY 1, 1991 - PRESENT

1995-1 C.B.
RATE TABLE PAGE
Jan. 1, 1991–Mar. 31, 1991 13% 31 585
Apr. 1, 1991–Jun. 30, 1991 12% 29 583
Jul. 1, 1991–Sep. 30, 1991 12% 29 583
Oct. 1, 1991–Dec. 31, 1991 12% 29 583
Jan. 1, 1992–Mar. 31, 1992 11% 75 629
Apr. 1, 1992–Jun. 30, 1992 10% 73 627
Jul. 1, 1992–Sep. 30, 1992 10% 73 627
Oct. 1, 1992–Dec. 31, 1992 9% 71 625
Jan. 1, 1993–Mar. 31, 1993 9% 23 577
Apr. 1, 1993–Jun. 30, 1993 9% 23 577
Jul. 1, 1993–Sep. 30, 1993 9% 23 577
Oct. 1, 1993–Dec. 31, 1993 9% 23 577
Jan. 1, 1994–Mar. 31, 1994 9% 23 577
Apr. 1, 1994–Jun. 30, 1994 9% 23 577
Jul. 1, 1994–Sep. 30, 1994 10% 25 579
Oct. 1, 1994–Dec. 31, 1994 11% 27 581
Jan. 1, 1995–Mar. 31, 1995 11% 27 581
Apr. 1, 1995–Jun. 30, 1995 12% 29 583
Jul. 1, 1995–Sep. 30, 1995 11% 27 581
Oct. 1, 1995–Dec. 31, 1995 11% 27 581
Jan. 1, 1996–Mar. 31, 1996 11% 75 629
Apr. 1, 1996–Jun. 30, 1996 10% 73 627
Jul. 1, 1996–Sep. 30, 1996 11% 75 629
Oct. 1, 1996–Dec. 31, 1996 11% 75 629
Jan. 1, 1997–Mar. 31, 1997 11% 27 581
Apr. 1, 1997–Jun. 30, 1997 11% 27 581
Jul. 1, 1997–Sep. 30, 1997 11% 27 581
Oct. 1, 1997–Dec. 31, 1997 11% 27 581
Jan. 1, 1998–Mar. 31, 1998 11% 27 581
Apr. 1, 1998–Jun. 30, 1998 10% 25 579
Jul. 1, 1998–Sep. 30, 1998 10% 25 579
Oct. 1, 1998–Dec. 31, 1998 10% 25 579
Jan. 1, 1999–Mar. 31, 1999 9% 23 577
Apr. 1, 1999–Jun. 30, 1999 10% 25 579
Jul. 1, 1999–Sep. 30, 1999 10% 25 579
Oct. 1, 1999–Dec. 31, 1999 10% 25 579
Jan. 1, 2000–Mar. 31, 2000 10% 73 627
Apr. 1, 2000–Jun. 30, 2000 11% 75 629
Jul. 1, 2000–Sep. 30, 2000 11% 75 629
Oct. 1, 2000–Dec. 31, 2000 11% 75 629
Jan. 1, 2001–Mar. 31, 2001 11% 27 581
Apr. 1, 2001–Jun. 30, 2001 10% 25 579
Jul. 1, 2001–Sep. 30, 2001 9% 23 577
Oct. 1, 2001–Dec. 31, 2001 9% 23 577
Jan. 1, 2002–Mar. 31, 2002 8% 21 575
Apr. 1, 2002–Jun. 30, 2002 8% 21 575
Jul. 1, 2002–Sep. 30, 2002 8% 21 575
Oct. 1, 2002–Dec. 31, 2002 8% 21 575
Jan. 1, 2003–Mar. 31, 2003 7% 19 573
Apr. 1, 2003–Jun. 30, 2003 7% 19 573
Jul. 1, 2003–Sep. 30, 2003 7% 19 573
Oct. 1, 2003–Dec. 31, 2003 6% 17 571
Jan. 1, 2004–Mar. 31, 2004 6% 65 619
Apr. 1, 2004–Jun. 30, 2004 7% 67 621
Jul. 1, 2004–Sep. 30, 2004 6% 65 619
Oct. 1, 2004–Dec. 31, 2004 7% 67 621
Jan. 1, 2005–Mar. 31, 2005 7% 19 573
Apr. 1, 2005–Jun. 30, 2005 8% 21 575
Jul. 1, 2005–Sep. 30, 2005 8% 21 575
Oct. 1, 2005–Dec. 31, 2005 9% 23 577
Jan. 1, 2006–Mar. 31, 2006 9% 23 577
Apr. 1, 2006–Jun. 30, 2006 9% 23 577
Jul. 1, 2006–Sep. 30, 2006 10% 25 579
Oct. 1, 2006–Dec. 31, 2006 10% 25 579
Jan. 1, 2007–Mar. 31, 2007 10% 25 579
Apr. 1, 2007–Jun. 30, 2007 10% 25 579
Jul. 1, 2007–Sep. 30, 2007 10% 25 579
Oct. 1, 2007–Dec. 31, 2007 10% 25 579
Jan. 1, 2008–Mar. 31, 2008 9% 71 625
Apr. 1, 2008–Jun. 30, 2008 8% 69 623
Jul. 1, 2008–Sep. 30, 2008 7% 67 621
Oct. 1, 2008–Dec. 31, 2008 8% 69 623
Jan. 1, 2009–Mar. 31, 2009 7% 19 573
Apr. 1, 2009–Jun. 30, 2009 6% 17 571
Jul. 1, 2009–Sep. 30, 2009 6% 17 571
Oct. 1, 2009–Dec. 31, 2009 6% 17 571
Jan. 1, 2010–Mar. 31, 2010 6% 17 571
Apr. 1, 2010–Jun. 30, 2010 6% 17 571
Jul. 1, 2010–Sep. 30, 2010 6% 17 571
Oct. 1, 2010–Dec. 31, 2010 6% 17 571
Jan. 1, 2011–Mar. 31, 2011 5% 15 569
Apr. 1, 2011–Jun. 30, 2011 6% 17 571
Jul. 1, 2011–Sep. 30, 2011 6% 17 571
Oct. 1, 2011–Dec. 31, 2011 5% 15 569
Jan. 1, 2012–Mar. 31, 2012 5% 63 617
Apr. 1, 2012–Jun. 30, 2012 5% 63 617
Jul. 1, 2012–Sep. 30, 2012 5% 63 617
Oct. 1, 2012–Dec. 31, 2012 5% 63 617
Jan. 1, 2013–Mar. 31, 2013 5% 15 569
Apr. 1, 2013–Jun. 30, 2013 5% 15 569
Jul. 1, 2013–Sep. 30, 2013 5% 15 569
Oct. 1, 2013–Dec. 31, 2013 5% 15 569
Jan. 1, 2014–Mar. 31, 2014 5% 15 569
Apr. 1, 2014–Jun. 30, 2014 5% 15 569
Jul. 1, 2014–Sep. 30, 2014 5% 15 569
Oct. 1, 2014–Dec. 31, 2014 5% 15 569
Jan. 1, 2015–Mar. 31, 2015 5% 15 569
Apr. 1, 2015–Jun. 30, 2015 5% 15 569
Jul. 1, 2015–Sep. 30, 2015 5% 15 569
Oct. 1, 2015–Dec. 31, 2015 5% 15 569
Jan. 1, 2016–Mar. 31, 2016 5% 63 617
Apr. 1, 2016–Jun. 30, 2016 6% 65 619
Jul. 1, 2016–Sep. 30, 2016 6% 65 619
Oct. 1, 2016–Dec. 31, 2016 6% 65 619
Jan. 1, 2017–Mar. 31, 2017 6% 17 571
Apr. 1, 2017–Jun. 30, 2017 6% 17 571
Jul. 1, 2017–Sep. 30, 2017 6% 17 571
Oct. 1, 2017–Dec. 31, 2017 6% 17 571
Jan. 1, 2018–Mar. 31, 2018 6% 17 571
Apr. 1, 2018–Jun. 30, 2018 7% 19 573
Jul. 1, 2018–Sep. 30, 2018 7% 19 573
Oct. 1, 2018–Dec. 31, 2018 7% 19 573
Jan. 1, 2019–Mar. 31, 2019 8% 21 575
Apr. 1, 2019–Jun. 30, 2019 8% 21 575
Jul. 1, 2019–Sep. 30, 2019 7% 19 573
Oct. 1, 2019–Dec. 31, 2019 7% 19 573
Jan. 1, 2020–Mar. 31, 2020 7% 67 621
Apr. 1, 2020–Jun. 30, 2020 7% 67 621
Jul. 1, 2020–Sep. 30, 2020 5% 63 617
Oct. 1, 2020–Dec. 31, 2020 5% 63 617
Jan. 1, 2021–Mar. 31, 2021 5% 15 569
Apr. 1, 2021–Jun. 30, 2021 5% 15 569
Jul. 1, 2021–Sep. 30, 2021 5% 15 569
Oct. 1, 2021–Dec. 31, 2021 5% 15 569
Jan. 1, 2022–Mar. 31, 2022 5% 15 569
Apr. 1, 2022–Jun. 30, 2022 6% 17 571
 

TABLE OF INTEREST RATES FOR CORPORATE OVERPAYMENTS EXCEEDING $10,000 FROM JANUARY 1, 1995 – PRESENT

1995-1 C.B.
RATE TABLE PAGE
Jan. 1, 1995–Mar. 31, 1995 6.5% 18 572
Apr. 1, 1995–Jun. 30, 1995 7.5% 20 574
Jul. 1, 1995–Sep. 30, 1995 6.5% 18 572
Oct. 1, 1995–Dec. 31, 1995 6.5% 18 572
Jan. 1, 1996–Mar. 31, 1996 6.5% 66 620
Apr. 1, 1996–Jun. 30, 1996 5.5% 64 618
Jul. 1, 1996–Sep. 30, 1996 6.5% 66 620
Oct. 1, 1996–Dec. 31, 1996 6.5% 66 620
Jan. 1, 1997–Mar. 31, 1997 6.5% 18 572
Apr. 1, 1997–Jun. 30, 1997 6.5% 18 572
Jul. 1, 1997–Sep. 30, 1997 6.5% 18 572
Oct. 1, 1997–Dec. 31, 1997 6.5% 18 572
Jan. 1, 1998–Mar. 31, 1998 6.5% 18 572
Apr. 1, 1998–Jun. 30, 1998 5.5% 16 570
Jul. 1. 1998–Sep. 30, 1998 5.5% 16 570
Oct. 1, 1998–Dec. 31, 1998 5.5% 16 570
Jan. 1, 1999–Mar. 31, 1999 4.5% 14 568
Apr. 1, 1999–Jun. 30, 1999 5.5% 16 570
Jul. 1, 1999–Sep. 30, 1999 5.5% 16 570
Oct. 1, 1999–Dec. 31, 1999 5.5% 16 570
Jan. 1, 2000–Mar. 31, 2000 5.5% 64 618
Apr. 1, 2000–Jun. 30, 2000 6.5% 66 620
Jul. 1, 2000–Sep. 30, 2000 6.5% 66 620
Oct. 1, 2000–Dec. 31, 2000 6.5% 66 620
Jan. 1, 2001–Mar. 31, 2001 6.5% 18 572
Apr. 1, 2001–Jun. 30, 2001 5.5% 16 570
Jul. 1, 2001–Sep. 30, 2001 4.5% 14 568
Oct. 1, 2001–Dec. 31, 2001 4.5% 14 568
Jan. 1, 2002–Mar. 31, 2002 3.5% 12 566
Apr. 1, 2002–Jun. 30, 2002 3.5% 12 566
Jul. 1, 2002–Sep. 30, 2002 3.5% 12 566
Oct. 1, 2002–Dec. 31, 2002 3.5% 12 566
Jan. 1, 2003–Mar. 31, 2003 2.5% 10 564
Apr. 1, 2003–Jun. 30, 2003 2.5% 10 564
Jul. 1, 2003–Sep. 30, 2003 2.5% 10 564
Oct. 1, 2003–Dec. 31, 2003 1.5% 8 562
Jan. 1, 2004–Mar. 31, 2004 1.5% 56 610
Apr. 1, 2004–Jun. 30, 2004 2.5% 58 612
Jul. 1, 2004–Sep. 30, 2004 1.5% 56 610
Oct. 1, 2004–Dec. 31, 2004 2.5% 58 612
Jan. 1, 2005–Mar. 31, 2005 2.5% 10 564
Apr. 1, 2005–Jun. 30, 2005 3.5% 12 566
Jul. 1, 2005–Sep. 30, 2005 3.5% 12 566
Oct. 1, 2005–Dec. 31, 2005 4.5% 14 568
Jan. 1, 2006–Mar. 31, 2006 4.5% 14 568
Apr. 1, 2006–Jun. 30, 2006 4.5% 14 568
Jul. 1, 2006–Sep. 30, 2006 5.5% 16 570
Oct. 1, 2006–Dec. 31, 2006 5.5% 16 570
Jan. 1, 2007–Mar. 31, 2007 5.5% 16 570
Apr. 1, 2007–Jun. 30, 2007 5.5% 16 570
Jul. 1, 2007–Sep. 30, 2007 5.5% 16 570
Oct. 1, 2007–Dec. 31, 2007 5.5% 16 570
Jan. 1, 2008–Mar. 31, 2008 4.5% 62 616
Apr. 1, 2008–Jun. 30, 2008 3.5% 60 614
Jul. 1, 2008–Sep. 30, 2008 2.5% 58 612
Oct. 1, 2008–Dec. 31, 2008 3.5% 60 614
Jan. 1, 2009–Mar. 31, 2009 2.5% 10 564
Apr. 1, 2009–Jun. 30, 2009 1.5% 8 562
Jul. 1, 2009–Sep. 30, 2009 1.5% 8 562
Oct. 1, 2009–Dec. 31, 2009 1.5% 8 562
Jan. 1, 2010–Mar. 31, 2010 1.5% 8 562
Apr. 1, 2010–Jun. 30, 2010 1.5% 8 562
Jul. 1, 2010–Sep. 30, 2010 1.5% 8 562
Oct. 1, 2010–Dec. 31, 2010 1.5% 8 562
Jan. 1, 2011–Mar. 31, 2011 0.5%*    
Apr. 1, 2011–Jun. 30, 2011 1.5% 8 562
Jul. 1, 2011–Sep. 30, 2011 1.5% 8 562
Oct. 1, 2011–Dec. 31, 2011 0.5%*    
Jan. 1, 2012–Mar. 31, 2012 0.5%*    
Apr. 1, 2012–Jun. 30, 2012 0.5%*    
Jul. 1, 2012–Sep. 30, 2012 0.5%*    
Oct. 1, 2012–Dec. 31, 2012 0.5%*    
Jan. 1, 2013–Mar. 31, 2013 0.5%*    
Apr. 1, 2013–Jun. 30, 2013 0.5%*    
Jul. 1, 2013–Sep. 30, 2013 0.5%*    
Oct. 1, 2013–Dec. 31, 2013 0.5%*    
Jan. 1, 2014–Mar. 31, 2014 0.5%*    
Apr. 1, 2014–Jun. 30, 2014 0.5%*    
Jul. 1, 2014–Sep. 30, 2014 0.5%*    
Oct. 1, 2014–Dec. 31, 2014 0.5%*    
Jan. 1, 2015–Mar. 31, 2015 0.5%*    
Apr. 1, 2015–Jun. 30, 2015 0.5%*    
Jul. 1, 2015–Sep. 30, 2015 0.5%*    
Oct. 1, 2015–Dec. 31, 2015 0.5%*    
Jan. 1, 2016–Mar. 31, 2016 0.5%*    
Apr. 1, 2016–Jun. 30, 2016 1.5% 56 610
Jul. 1, 2016–Sep. 30, 2016 1.5% 56 610
Oct. 1, 2016–Dec. 31, 2016 1.5% 56 610
Jan. 1, 2017–Mar. 31, 2017 1.5% 8 562
Apr. 1, 2017–Jun. 30, 2017 1.5% 8 562
Jul. 1, 2017–Sep. 30, 2017 1.5% 8 562
Oct. 1, 2017–Dec. 31, 2017 1.5% 8 562
Jan. 1, 2018–Mar. 31, 2018 1.5% 8 562
Apr. 1, 2018–Jun. 30, 2018 2.5% 10 564
Jul. 1, 2018–Sep. 30, 2018 2.5% 10 564
Oct. 1, 2018–Dec. 31, 2018 2.5% 10 564
Jan. 1, 2019–Mar. 31, 2019 3.5% 12 566
Apr. 1, 2019–Jun. 30, 2019 3.5% 12 566
Jul. 1, 2019–Sep. 30, 2019 2.5% 10 564
Oct. 1, 2019–Dec. 31, 2019 2.5% 10 564
Jan. 1, 2020–Mar. 31, 2020 2.5% 58 612
Apr. 1, 2020–Jun. 30, 2020 2.5% 58 612
Jul. 1, 2020–Sep. 30, 2020 0.5%*    
Oct. 1, 2020–Dec. 31, 2020 0.5%*    
Jan. 1, 2021–Mar. 31, 2021 0.5%*    
Apr. 1, 2021–Jun. 30, 2021 0.5%*    
Jul. 1, 2021–Sep. 30, 2021 0.5%*    
Oct. 1, 2021–Dec. 31, 2021 0.5%*    
Jan. 1, 2022–Mar. 31, 2022 0.5%*    
Apr. 1, 2022–Jun. 30, 2022 1.5% 8 562
 

* The asterisk reflects the interest factors for daily compound interest for annual rates of 0.5 percent published in Appendix A of this Revenue Ruling.

Part III

Update for Weighted Average Interest Rates, Yield Curves, and Segment Rates

Notice 2022-9

This notice provides guidance on the corporate bond monthly yield curve, the corresponding spot segment rates used under § 417(e)(3), and the 24-month average segment rates under § 430(h)(2) of the Internal Revenue Code. In addition, this notice provides guidance as to the interest rate on 30-year Treasury securities under § 417(e)(3)(A)(ii)(II) as in effect for plan years beginning before 2008 and the 30-year Treasury weighted average rate under § 431(c)(6)(E)(ii)(I).

YIELD CURVE AND SEGMENT RATES

Section 430 specifies the minimum funding requirements that apply to single-employer plans (except for CSEC plans under § 414(y)) pursuant to § 412. Section 430(h)(2) specifies the interest rates that must be used to determine a plan’s target normal cost and funding target. Under this provision, present value is generally determined using three 24-month average interest rates (“segment rates”), each of which applies to cash flows during specified periods. To the extent provided under § 430(h)(2)(C)(iv), these segment rates are adjusted by the applicable percentage of the 25-year average segment rates for the period ending September 30 of the year preceding the calendar year in which the plan year begins.1 However, an election may be made under § 430(h)(2)(D)(ii) to use the monthly yield curve in place of the segment rates.

Notice 2007-81, 2007-44 I.R.B. 899, provides guidelines for determining the monthly corporate bond yield curve, and the 24-month average corporate bond segment rates used to compute the target normal cost and the funding target. Consistent with the methodology specified in Notice 2007-81, the monthly corporate bond yield curve derived from January 2022 data is in Table 2022-1 at the end of this notice. The spot first, second, and third segment rates for the month of January 2022 are, respectively, 1.41, 3.02, and 3.36.

The 24-month average segment rates determined under § 430(h)(2)(C)(i) through (iii) must be adjusted pursuant to § 430(h)(2)(C)(iv) to be within the applicable minimum and maximum percentages of the corresponding 25-year average segment rates. The 25-year average segment rates for plan years beginning in 2021 and 2022 were published in Notice 2020-72, 2020-40 I.R.B. 789, and Notice 2021-54, 2021-41 I.R.B. 457, respectively.

24-MONTH AVERAGE CORPORATE BOND SEGMENT RATES

The three 24-month average corporate bond segment rates applicable for February 2022 without adjustment for the 25-year average segment rate limits are as follows:

24-Month Average Segment Rates Without 25-Year Average Adjustment

Applicable Month First Segment Second Segment Third Segment
February 2022 0.86 2.61 3.26

25-YEAR AVERAGE SEGMENT RATES

Section 9706(a) of the American Rescue Plan Act of 2021, Pub. L. No. 117-2 (ARP), which was enacted on March 11, 2021, changes the 25-year average segment rates and the applicable minimum and maximum percentages used under § 430(h)(3)(C)(iv) of the Code to adjust the 24-month average segment rates.2 Prior to this change, the applicable minimum and maximum percentages were 85% and 115% for a plan year beginning in 2021, and 80% and 120% for plan year beginning in 2022, respectively. After this change, the applicable minimum and maximum percentages are 95% and 105% for a plan year beginning in 2021 or 2022. In addition, pursuant to this change, any 25-year average segment rate that is less than 5% is deemed to be 5%.3

Pursuant to § 9706(c)(1) of ARP, these changes apply with respect to plan years beginning on or after January 1, 2020. However, § 9706(c)(2) of ARP provides that a plan sponsor may elect not to have these changes apply to any plan year beginning before January 1, 2022.4

The adjusted 24-month average segment rates set forth in the chart below reflect § 430(h)(2)(C)(iv) of the Code as amended by § 9706(a) of ARP. These adjusted 24-month average segment rates apply only for plan years for which an election under § 9706(c)(2) of ARP is not in effect. For a plan year for which such an election does not apply, the 24-month averages applicable for February 2022, adjusted to be within the applicable minimum and maximum percentages of the corresponding 25-year average segment rates in accordance with § 430(h)(2)(C)(iv) of the Code, are as follows:

Adjusted 24-Month Average Segment Rates

For Plan Years Beginning In Applicable Month First Segment Second Segment Third Segment
2021 February 2022 4.75 5.36 6.11
2022 February 2022 4.75 5.18 5.92
 

The adjusted 24-month average segment rates set forth in the chart below do not reflect the changes to § 430(h)(2)(C)(iv) of the Code made by § 9706(a) of ARP. These adjusted 24-month average segment rates apply only for plan years for which an election under § 9706(c)(2) of ARP is in effect. For a plan year for which such an election applies, the 24-month averages applicable for February 2022, adjusted to be within the applicable minimum and maximum percentages of the corresponding 25-year average segment rates in accordance with § 430(h)(2)(C)(iv) of the Code, are as follows:

Pre-ARP Adjusted 24-Month Average Segment Rates

For Plan Years Beginning In Applicable Month First Segment Second Segment Third Segment
2021 February 2022 3.32 4.79 5.47

30-YEAR TREASURY SECURITIES INTEREST RATES

Section 431 specifies the minimum funding requirements that apply to multiemployer plans pursuant to § 412. Section 431(c)(6)(B) specifies a minimum amount for the full-funding limitation described in § 431(c)(6)(A), based on the plan’s current liability. Section 431(c)(6)(E)(ii)(I) provides that the interest rate used to calculate current liability for this purpose must be no more than 5 percent above and no more than 10 percent below the weighted average of the rates of interest on 30-year Treasury securities during the four-year period ending on the last day before the beginning of the plan year. Notice 88-73, 1988-2 C.B. 383, provides guidelines for determining the weighted average interest rate. The rate of interest on 30-year Treasury securities for January 2022 is 2.10 percent. The Service determined this rate as the average of the daily determinations of yield on the 30-year Treasury bond maturing in August 2051. For plan years beginning in February 2022, the weighted average of the rates of interest on 30-year Treasury securities and the permissible range of rates used to calculate current liability are as follows:

Treasury Weighted Average Rates

For Plan Years Beginning In 30-Year Treasury Weighted Average Permissible Range 90% to 105%
February 2022 2.10 1.89 to 2.21

MINIMUM PRESENT VALUE SEGMENT RATES

In general, the applicable interest rates under § 417(e)(3)(D) are segment rates computed without regard to a 24-month average. Notice 2007-81 provides guidelines for determining the minimum present value segment rates. Pursuant to that notice, the minimum present value segment rates determined for January 2022 are as follows:

Minimum Present Value Segment Rates

Month First Segment Second Segment Third Segment
January 2022 1.41 3.02 3.36

DRAFTING INFORMATION

The principal author of this notice is Tom Morgan of the Office of the Associate Chief Counsel (Employee Benefits, Exempt Organizations, and Employment Taxes). However, other personnel from the IRS participated in the development of this guidance. For further information regarding this notice, contact Mr. Morgan at 202-317-6700 or Osmundo Bernabe at 626-927-1344 (not a toll-free number).

Table 2022-1 Monthly Yield Curve for January 2022 Derived from January 2022 Data

Maturity Yield Maturity Yield Maturity Yield Maturity Yield Maturity Yield
0.5 0.41 20.5 3.36 40.5 3.36 60.5 3.37 80.5 3.37
1.0 0.76 21.0 3.36 41.0 3.36 61.0 3.37 81.0 3.37
1.5 1.07 21.5 3.36 41.5 3.36 61.5 3.37 81.5 3.37
2.0 1.31 22.0 3.35 42.0 3.36 62.0 3.37 82.0 3.37
2.5 1.49 22.5 3.35 42.5 3.36 62.5 3.37 82.5 3.37
3.0 1.62 23.0 3.35 43.0 3.36 63.0 3.37 83.0 3.37
3.5 1.72 23.5 3.35 43.5 3.36 63.5 3.37 83.5 3.37
4.0 1.82 24.0 3.35 44.0 3.36 64.0 3.37 84.0 3.37
4.5 1.91 24.5 3.35 44.5 3.36 64.5 3.37 84.5 3.37
5.0 2.00 25.0 3.35 45.0 3.36 65.0 3.37 85.0 3.37
5.5 2.10 25.5 3.35 45.5 3.36 65.5 3.37 85.5 3.37
6.0 2.20 26.0 3.35 46.0 3.36 66.0 3.37 86.0 3.37
6.5 2.30 26.5 3.35 46.5 3.36 66.5 3.37 86.5 3.37
7.0 2.40 27.0 3.35 47.0 3.36 67.0 3.37 87.0 3.37
7.5 2.50 27.5 3.35 47.5 3.36 67.5 3.37 87.5 3.37
8.0 2.60 28.0 3.35 48.0 3.36 68.0 3.37 88.0 3.37
8.5 2.69 28.5 3.35 48.5 3.36 68.5 3.37 88.5 3.37
9.0 2.78 29.0 3.35 49.0 3.36 69.0 3.37 89.0 3.37
9.5 2.86 29.5 3.35 49.5 3.36 69.5 3.37 89.5 3.37
10.0 2.93 30.0 3.35 50.0 3.37 70.0 3.37 90.0 3.37
10.5 2.99 30.5 3.35 50.5 3.37 70.5 3.37 90.5 3.37
11.0 3.05 31.0 3.35 51.0 3.37 71.0 3.37 91.0 3.38
11.5 3.11 31.5 3.35 51.5 3.37 71.5 3.37 91.5 3.38
12.0 3.15 32.0 3.35 52.0 3.37 72.0 3.37 92.0 3.38
12.5 3.19 32.5 3.35 52.5 3.37 72.5 3.37 92.5 3.38
13.0 3.23 33.0 3.35 53.0 3.37 73.0 3.37 93.0 3.38
13.5 3.25 33.5 3.35 53.5 3.37 73.5 3.37 93.5 3.38
14.0 3.28 34.0 3.35 54.0 3.37 74.0 3.37 94.0 3.38
14.5 3.30 34.5 3.36 54.5 3.37 74.5 3.37 94.5 3.38
15.0 3.31 35.0 3.36 55.0 3.37 75.0 3.37 95.0 3.38
15.5 3.33 35.5 3.36 55.5 3.37 75.5 3.37 95.5 3.38
16.0 3.34 36.0 3.36 56.0 3.37 76.0 3.37 96.0 3.38
16.5 3.34 36.5 3.36 56.5 3.37 76.5 3.37 96.5 3.38
17.0 3.35 37.0 3.36 57.0 3.37 77.0 3.37 97.0 3.38
17.5 3.35 37.5 3.36 57.5 3.37 77.5 3.37 97.5 3.38
18.0 3.36 38.0 3.36 58.0 3.37 78.0 3.37 98.0 3.38
18.5 3.36 38.5 3.36 58.5 3.37 78.5 3.37 98.5 3.38
19.0 3.36 39.0 3.36 59.0 3.37 79.0 3.37 99.0 3.38
19.5 3.36 39.5 3.36 59.5 3.37 79.5 3.37 99.5 3.38
20.0 3.36 40.0 3.36 60.0 3.37 80.0 3.37 100.0 3.38
 

1 Pursuant to § 433(h)(3)(A), the 3rd segment rate determined under § 430(h)(2)(C) is used to determine the current liability of a CSEC plan (which is used to calculate the minimum amount of the full funding limitation under § 433(c)(7)(C)).

2 Section 80602 of the Infrastructure Investment and Jobs Act, Pub. L. 117-58, makes further changes to the time periods for which specified applicable minimum and maximum percentages apply.

3 Pursuant to this change, the 25-year averages of the first segment rate for 2020, 2021, and 2022 are increased to 5.00% because those 25-year averages as originally published are below 5.00%.

4 This election may be made either for all purposes for which the amendments under § 9706 of ARP apply or solely for purposes of determining the adjusted funding target attainment percentage under § 436 of the Code for the plan year.

Determination of Housing Cost Amounts Eligible for Exclusion or Deduction for 2022

Notice 2022-10

SECTION 1. PURPOSE

This notice provides adjustments to the limitation on housing expenses for purposes of section 911 of the Internal Revenue Code for specific locations for 2022. These adjustments are based on geographic differences in housing costs relative to housing costs in the United States.

SECTION 2. BACKGROUND

Section 911 allows a qualified individual to elect to exclude from gross income the foreign earned income and to exclude or deduct the housing cost amount of such individual.

The term “housing cost amount” is generally the total of the housing expenses for the taxable year minus a base housing amount. See § 911(c)(1). For this purpose, the base housing amount for the taxable year is limited to an amount that is tied to the maximum foreign earned income exclusion amount, which is $112,000 for 2022. See § 911(c)(1)(B) and (d)(1). Specifically, the base housing amount is 16 percent of the maximum foreign earned income exclusion amount (computed on a daily basis), multiplied by the number of days in the applicable period that fall within the taxable year. Assuming that the entire taxable year of a qualified individual is within the applicable period, the base housing amount for 2022 is $17,920 ($112,000 x .16).

Similarly, the housing expense amount is also limited, based on a percentage of the maximum foreign earned income exclusion amount. Specifically, the limit on such housing expenses generally equals 30 percent of the maximum foreign earned income exclusion amount (computed on a daily basis), multiplied by the number of days in the applicable period for which the taxpayer is a qualified individual. See § 911(c)(2)(A) and (d)(1). Thus, under this general limitation, a qualified individual whose entire taxable year is within the applicable period is limited to maximum housing expenses of $33,600 ($112,000 x .30) for 2022. However, section 911(c)(2)(B) authorizes the Secretary to issue regulations or other guidance to adjust the percentage under section 911(c)(2)(A)(i) (which determines the limit on housing expenses) based on geographic differences in housing costs relative to housing costs in the United States. Pursuant to this authority, the Department of the Treasury (Treasury Department) and the Internal Revenue Service (IRS) have published annual notices concerning the limitation on the section 911 housing cost amounts since the 2006 taxable year.

For more background on the foreign housing exclusion, see https://www.irs.gov/individuals/international-taxpayers/foreign-housing-exclusion-or-deduction.

SECTION 3. TABLE OF ADJUSTED HOUSING LIMITATIONS FOR 2022

The following table provides adjusted limitations on housing expenses (in lieu of the otherwise applicable limitation of $33,600) for 2022.

Country Location Limitation on Housing Expenses (full year) Limitation on Housing Expenses (daily)
Angola Luanda 84,000 230.14
Argentina Buenos Aires 56,500 154.79
Australia Canberra 36,800 100.82
Australia Sydney 70,800 193.97
Bahamas, The Nassau 49,700 136.16
Bahrain Bahrain 48,300 132.33
Barbados Barbados 37,700 103.29
Barbados Bridgetown 37,700 103.29
Belgium Brussels 41,400 113.42
Belgium Gosselies 36,900 101.10
Belgium Mons 36,900 101.10
Belgium SHAPE/Chievres 36,900 101.10
Bermuda Bermuda 90,000 246.58
Brazil Rio de Janeiro 35,100 96.16
Brazil Sao Paulo 56,600 155.07
Canada Calgary 40,800 111.78
Canada Montreal 55,500 152.05
Canada Ottawa 47,000 128.77
Canada Quebec 36,000 98.63
Canada Toronto 63,200 173.15
Canada Vancouver 49,700 136.16
Canada Victoria 41,100 112.60
Cayman Islands Grand Cayman 48,000 131.51
China Beijing 76,400 209.32
China Hong Kong 114,300 313.15
China Shanghai 57,001 156.17
Colombia Bogota 58,700 160.82
Colombia All cities other than Bogota 49,400 135.34
Costa Rica San Jose 37,800 103.56
Democratic Republic of the Congo Kinshasa 42,000 115.07
Denmark Copenhagen 43,704 119.74
Dominican Republic Santo Domingo 45,500 124.66
Ecuador Quito 38,200 104.66
Estonia Tallinn 46,600 127.67
France Garches 71,000 194.52
France Lyon 39,300 107.67
France Marseille 38,300 104.93
France Paris 71,000 194.52
France Sevres 71,000 194.52
France Suresnes 71,000 194.52
France Versailles 71,000 194.52
Germany Babenhausen 34,800 95.34
Germany Baumholder 34,600 94.79
Germany Berlin 42,500 116.44
Germany Birkenfeld 34,600 94.79
Germany Boeblingen 42,300 115.89
Germany Bonn 42,000 115.07
Germany Cologne 56,200 153.97
Germany Darmstadt 34,800 95.34
Germany Dulmen 34,200 93.70
Germany Frankfurt am Main 36,300 99.45
Germany Gelnhausen 43,900 120.27
Germany Giessen 36,000 98.63
Germany Grafenwoehr 35,200 96.44
Germany Hanau 47,200 129.32
Germany Idar-Oberstein 34,600 94.79
Germany Ingolstadt 49,700 136.16
Germany Kaiserslautern, Landkreis 43,700 119.73
Germany Koblenz 34,200 93.70
Germany Ludwigsburg 42,300 115.89
Germany Mainz 48,700 133.42
Germany Munich 49,700 136.16
Germany Nellingen 42,300 115.89
Germany Neubruecke 34,600 94.79
Germany Ober Ramstadt 34,800 95.34
Germany Pfullendorf 34,200 93.70
Germany Pirmasens 43,700 119.73
Germany Sembach 43,700 119.73
Germany Stuttgart 42,300 115.89
Germany Vilseck 35,200 96.44
Germany Wahn 42,000 115.07
Germany Wiesbaden 48,700 133.42
Germany Zweibrueken 43,700 119.73
Germany All cities other than Augsburg, Babenhausen, Bad Aibling, Bad Kreuznach, Bad Nauheim, Baumholder, Berchtesgaden, Berlin, Birkenfeld, Boeblingen, Bonn, Bremen, Bremerhaven, Butzbach, Cologne, Darmstadt, Delmenhorst, Duesseldorf, Dulmen, Erlangen, Flensburg, Frankfurt am Main, Friedberg, Fuerth, Garlstedt, Garmisch- Partenkirchen, Geilenkirchen, Gelnhausen, Germersheim, Giebelstadt, Giessen, Grafenwoehr, Grefrath, Greven, Gruenstadt, Hamburg, Hanau, Handorf, Hannover, Heidelberg, Heilbronn, Herongen, Idar- Oberstein, Ingolstadt, Kaiserslautern, Landkreis, Leimen, Kalkar, Karlsruhe, Kerpen, Kitzingen, Koblenz, Leipzig, Ludwigsburg, Mainz, Mannheim, Mayen, Moenchen- Gladbach, Muenster, Munich, Nellingen, Neubruecke,    
Nuernberg, Noervenich, 34,200 93.70  
  Nuernberg, Ober Ramstadt, Oberammergau, Osterholz- Scharmbeck, Pfullendorf, Pirmasens, Rheinberg, Schwabach, Schwetzingen, Seckenheim, Sembach, Stuttgart, Twisteden, Vilseck, Wahn, Wertheim, Wiesbaden, Worms, Wuerzburg, Zirndorf, and    
Zweibrueken      
Ghana Accra 36,000 98.63
Greece Athens 34,800 95.34
Greece Elefsis 34,800 95.34
Greece Ellinikon 34,800 95.34
Greece Mt. Parnis 34,800 95.34
Greece Mt. Pateras 34,800 95.34
Greece Nea Makri 34,800 95.34
Greece Piraeus 34,800 95.34
Greece Tanagra 34,800 95.34
Guatemala Guatemala City 42,000 115.07
Guinea Conakry 51,300 140.55
Guyana Georgetown 35,000 95.89
Holy See, The Holy See, The 47,300 129.59
India Mumbai 67,920 186.08
India New Delhi 56,124 153.76
Indonesia Jakarta 37,776 103.50
Ireland Dublin 41,100 112.60
Israel Beer Sheva 63,800 174.79
Israel Jerusalem 49,000 134.25
Israel Tel Aviv 50,800 139.18
Israel West Bank 49,000 134.25
Italy Aviano 37,700 103.29
Italy Genoa 41,800 114.52
Italy La Spezia 40,400 110.68
Italy Milan 70,600 193.42
Italy Naples 48,500 132.88
Italy Parma 35,900 98.36
Italy Rome 47,300 129.59
Italy Turin 35,400 96.99
Italy Vicenza 39,500 108.22
Jamaica Kingston 41,200 112.88
Japan Atsugi 40,100 109.86
Japan Camp Zama 40,100 109.86
Japan Chiba-Ken 40,100 109.86
Japan Fussa 40,100 109.86
Japan Gifu 74,300 203.56
Japan Haneda 40,100 109.86
Japan Kanagawa-Ken 40,100 109.86
Japan Komaki 74,300 203.56
Japan Machidi-Shi 40,100 109.86
Japan Nagoya 74,300 203.56
Japan Okinawa Prefecture 56,700 155.34
Japan Osaka-Kobe 90,664 248.39
Japan Sagamihara 40,100 109.86
Japan Saitama-Ken 40,100 109.86
Japan Tachikawa 40,100 109.86
Japan Tokyo 92,400 253.15
Japan Tokyo-to 40,100 109.86
Japan Yokohama 49,300 135.07
Japan Yokosuka 53,100 145.48
Japan Yokota 37,700 103.29
Kazakhstan Almaty 48,000 131.51
Korea Camp Colbern 54,200 148.49
Korea Camp Market 54,500 149.32
Korea Camp Mercer 54,200 148.49
Korea K-16 54,500 149.32
Korea Kimpo Airfield 54,500 149.32
Korea Osan AB 36,300 99.45
Korea Pyongtaek 39,000 106.85
Korea Seoul 54,500 149.32
Korea Suwon 54,500 149.32
Korea Tongduchon 35,200 96.44
Kuwait Kuwait City 64,400 176.44
Kuwait All cities other than Kuwait City 57,700 158.08
Luxembourg Luxembourg 38,700 106.03
Macedonia Skopje 35,400 96.99
Malaysia Kuala Lumpur 46,200 126.58
Malaysia All cities other than Kuala Lumpur 33,700 92.33
Malta Malta 55,100 150.96
Mexico Merida 37,900 103.84
Mexico Mexico City 47,900 131.23
Mexico All cities other than Ciudad Juarez, Cuernavaca, Guadalajara, Hermosillo, Matamoros, Mazatlan, Merida, Metapa, Mexico City, Monterrey, Nogales, Nuevo Laredo, Reynosa, Tapachula, Tijuana, Tuxtla Gutierrez, and    
Veracruz 39,400 107.95  
Mozambique Maputo 39,500 108.22
Netherlands Amsterdam 52,900 144.93
Netherlands Aruba 39,100 107.12
Netherlands Brunssum 35,400 96.99
Netherlands Eygelshoven 35,400 96.99
Netherlands Hague, The 56,400 154.52
Netherlands Heerlen 35,400 96.99
Netherlands Hoensbroek 35,400 96.99
Netherlands Hulsberg 35,400 96.99
Netherlands Kerkrade 35,400 96.99
Netherlands Landgraaf 35,400 96.99
Netherlands Maastricht 35,400 96.99
Netherlands Papendrecht 34,000 93.15
Netherlands Rotterdam 34,000 93.15
Netherlands Schaesburg 35,400 96.99
Netherlands Schinnen 35,400 96.99
Netherlands Schiphol 52,900 144.93
Netherlands Ypenburg 56,400 154.52
Netherlands Antilles Curacao 45,800 125.48
New Zealand Wellington 33,800 92.60
Nigeria Abuja 36,000 98.63
Oman Muscat 41,300 113.15
Panama Panama City 39,500 108.22
Peru Lima 39,100 107.12
Philippines Cavite 39,500 108.22
Philippines Manila 39,500 108.22
Poland Warsaw 40,900 112.05
Portugal Alverca 43,200 118.36
Portugal Lisbon 43,200 118.36
Qatar Doha 45,888 125.72
Romania Bucharest 41,200 112.88
Russia Moscow 108,000 295.89
Russia Saint Petersburg 60,000 164.38
Russia Sakhalin Island 77,500 212.33
Russia Vladivostok 77,500 212.33
Russia Yekaterinburg 47,400 129.86
Singapore Singapore 82,300 225.48
Slovenia Ljubljana 49,600 135.89
South Africa Pretoria 39,300 107.67
Spain Barcelona 40,600 111.23
Spain Madrid 57,600 157.81
Spain Rota 35,200 96.44
Switzerland Bern 70,500 193.15
Switzerland Geneva 100,400 275.07
Taiwan Taipei 46,188 126.54
Tanzania Dar Es Salaam 44,000 120.55
Thailand Bangkok 59,000 161.64
Trinidad and Tobago Port of Spain 54,500 149.32
Ukraine Kiev 72,000 197.26
United Arab Emirates Abu Dhabi 49,687 136.13
United Arab Emirates Dubai 57,174 156.64
United Kingdom Basingstoke 41,099 112.60
United Kingdom Bath 41,000 112.33
United Kingdom Bracknell 62,100 170.14
United Kingdom Brookwood 36,800 100.82
United Kingdom Cambridge 35,700 97.81
United Kingdom Caversham 73,800 202.19
United Kingdom Cheltenham 43,500 119.18
United Kingdom Croughton 36,600 100.27
United Kingdom Fairford 34,600 94.79
United Kingdom Farnborough 54,700 149.86
United Kingdom Felixstowe 34,400 94.25
United Kingdom Gibraltar 44,616 122.24
United Kingdom Harrogate 38,600 105.75
United Kingdom High Wycombe 62,100 170.14
United Kingdom Huntingdon 36,800 100.82
United Kingdom Kemble 34,600 94.79
United Kingdom Lakenheath 46,700 127.95
United Kingdom London 69,500 190.41
United Kingdom Loudwater 56,700 155.34
United Kingdom Menwith Hill 38,600 105.75
United Kingdom Mildenhall 46,700 127.95
United Kingdom Oxfordshire 36,100 98.90
United Kingdom Plymouth 36,100 98.90
United Kingdom Portsmouth 36,100 98.90
United Kingdom Reading 62,100 170.14
United Kingdom Rochester 37,100 101.64
United Kingdom Samlesbury 36,800 100.82
United Kingdom Southampton 44,200 121.10
United Kingdom Surrey 48,402 132.61
United Kingdom Waterbeach 36,900 101.10
United Kingdom Wiltshire 34,800 95.34
United Kingdom All cities other than Basingstoke, Bath, Belfast, Birmingham, Bracknell, Bristol, Brookwood, Brough, Cambridge, Caversham, Chelmsford, Cheltenham, Chicksands, Croughton, Dunstable, Edinburgh, Edzell, Fairford, Farnborough, Felixstowe, Ft. Halstead, Gibraltar, Glenrothes, Greenham Common, Harrogate, High Wycombe, Huntingdon, Hythe, Kemble, Lakenheath, Liverpool, London, Loudwater, Menwith Hill, Mildenhall, Nottingham, Oxfordshire, Plymouth, Portsmouth, Reading, Rochester, Samlesbury, Southampton, Surrey, Waterbeach, Welford,    
West Byfleet, and Wiltshire 37,900 103.84  
Venezuela Caracas 57,000 156.16
Vietnam Hanoi 46,800 128.22
Vietnam Ho Chi Minh City 42,000 115.07

SECTION 4. OPTION TO APPLY 2022 ADJUSTED HOUSING LIMITATIONS TO 2021 TAXABLE YEAR

For some locations, the limitation on housing expenses provided in Section 3 of this notice may be higher than the limitation on housing expenses provided in the “Table of Adjusted Limitations for 2021” in Notice 2021-18. A qualified individual incurring housing expenses in such a location during 2021 may apply the adjusted limitation on housing expenses provided in Section 3 of this notice for 2022 in lieu of the amounts provided in the “Table of Adjusted Limitations for 2021” in Notice 2021-18 (and as set forth in the Instructions to Form 2555, Foreign Earned Income, for 2021).

The Treasury Department and the IRS anticipate that future annual notices providing adjustments to housing expense limitations will make a similar option available to qualified individuals that incur housing expenses in the immediately preceding year. For example, when adjusted housing expense limitations for 2023 are issued, it is expected that taxpayers will be permitted to apply those adjusted limitations to the 2022 taxable year.

SECTION 5. EFFECT ON OTHER DOCUMENTS

This notice supersedes Notice 2021-18, 2021-11 I.R.B. 911.

SECTION 6. EFFECTIVE DATE

This notice is effective for taxable years beginning on or after January 1, 2022. However, as provided in Section 4, taxpayers may apply the 2022 adjusted housing limitations contained in Section 3 of this notice to his or her taxable year beginning in 2021.

SECTION 7. DRAFTING INFORMATION

The principal author of this notice is Kate Y. Hwa of the Office of Associate Chief Counsel (International). For further information regarding this notice contact Kate Y. Hwa at (202) 317-5001 (not a toll-free number).

Definition of Terms

Revenue rulings and revenue procedures (hereinafter referred to as “rulings”) that have an effect on previous rulings use the following defined terms to describe the effect:

Amplified describes a situation where no change is being made in a prior published position, but the prior position is being extended to apply to a variation of the fact situation set forth therein. Thus, if an earlier ruling held that a principle applied to A, and the new ruling holds that the same principle also applies to B, the earlier ruling is amplified. (Compare with modified, below).

Clarified is used in those instances where the language in a prior ruling is being made clear because the language has caused, or may cause, some confusion. It is not used where a position in a prior ruling is being changed.

Distinguished describes a situation where a ruling mentions a previously published ruling and points out an essential difference between them.

Modified is used where the substance of a previously published position is being changed. Thus, if a prior ruling held that a principle applied to A but not to B, and the new ruling holds that it applies to both A and B, the prior ruling is modified because it corrects a published position. (Compare with amplified and clarified, above).

Obsoleted describes a previously published ruling that is not considered determinative with respect to future transactions. This term is most commonly used in a ruling that lists previously published rulings that are obsoleted because of changes in laws or regulations. A ruling may also be obsoleted because the substance has been included in regulations subsequently adopted.

Revoked describes situations where the position in the previously published ruling is not correct and the correct position is being stated in a new ruling.

Superseded describes a situation where the new ruling does nothing more than restate the substance and situation of a previously published ruling (or rulings). Thus, the term is used to republish under the 1986 Code and regulations the same position published under the 1939 Code and regulations. The term is also used when it is desired to republish in a single ruling a series of situations, names, etc., that were previously published over a period of time in separate rulings. If the new ruling does more than restate the substance of a prior ruling, a combination of terms is used. For example, modified and superseded describes a situation where the substance of a previously published ruling is being changed in part and is continued without change in part and it is desired to restate the valid portion of the previously published ruling in a new ruling that is self contained. In this case, the previously published ruling is first modified and then, as modified, is superseded.

Supplemented is used in situations in which a list, such as a list of the names of countries, is published in a ruling and that list is expanded by adding further names in subsequent rulings. After the original ruling has been supplemented several times, a new ruling may be published that includes the list in the original ruling and the additions, and supersedes all prior rulings in the series.

Suspended is used in rare situations to show that the previous published rulings will not be applied pending some future action such as the issuance of new or amended regulations, the outcome of cases in litigation, or the outcome of a Service study.

Abbreviations

The following abbreviations in current use and formerly used will appear in material published in the Bulletin.

A—Individual.

Acq.—Acquiescence.

B—Individual.

BE—Beneficiary.

BK—Bank.

B.T.A.—Board of Tax Appeals.

C—Individual.

C.B.—Cumulative Bulletin.

CFR—Code of Federal Regulations.

CI—City.

COOP—Cooperative.

Ct.D.—Court Decision.

CY—County.

D—Decedent.

DC—Dummy Corporation.

DE—Donee.

Del. Order—Delegation Order.

DISC—Domestic International Sales Corporation.

DR—Donor.

E—Estate.

EE—Employee.

E.O.—Executive Order.

ER—Employer.

ERISA—Employee Retirement Income Security Act.

EX—Executor.

F—Fiduciary.

FC—Foreign Country.

FICA—Federal Insurance Contributions Act.

FISC—Foreign International Sales Company.

FPH—Foreign Personal Holding Company.

F.R.—Federal Register.

FUTA—Federal Unemployment Tax Act.

FX—Foreign corporation.

G.C.M.—Chief Counsel’s Memorandum.

GE—Grantee.

GP—General Partner.

GR—Grantor.

IC—Insurance Company.

I.R.B.—Internal Revenue Bulletin.

LE—Lessee.

LP—Limited Partner.

LR—Lessor.

M—Minor.

Nonacq.—Nonacquiescence.

O—Organization.

P—Parent Corporation.

PHC—Personal Holding Company.

PO—Possession of the U.S.

PR—Partner.

PRS—Partnership.

PTE—Prohibited Transaction Exemption.

Pub. L.—Public Law.

REIT—Real Estate Investment Trust.

Rev. Proc.—Revenue Procedure.

Rev. Rul.—Revenue Ruling.

S—Subsidiary.

S.P.R.—Statement of Procedural Rules.

Stat.—Statutes at Large.

T—Target Corporation.

T.C.—Tax Court.

T.D.—Treasury Decision.

TFE—Transferee.

TFR—Transferor.

T.I.R.—Technical Information Release.

TP—Taxpayer.

TR—Trust.

TT—Trustee.

U.S.C.—United States Code.

X—Corporation.

Y—Corporation.

Z—Corporation.

Numerical Finding List1

Numerical Finding List

Bulletin 2022–10

Announcements:

Article Issue Link Page
2022-3 2022-08 I.R.B. 2022-08 788
2022-4 2022-09 I.R.B. 2022-09 789
 

AOD:

Article Issue Link Page
2022-1 2022-06 I.R.B. 2022-06 466
 

Notices:

Article Issue Link Page
2022-1 2022-02 I.R.B. 2022-02 304
2022-2 2022-02 I.R.B. 2022-02 304
2022-3 2022-02 I.R.B. 2022-02 308
2022-4 2022-02 I.R.B. 2022-02 309
2022-5 2022-05 I.R.B. 2022-05 457
2022-6 2022-05 I.R.B. 2022-05 460
2022-7 2022-06 I.R.B. 2022-06 469
2022-8 2022-07 I.R.B. 2022-07 491
2022-9 2022-10 I.R.B. 2022-10 811
2022-10 2022-10 I.R.B. 2022-10 815
 

Proposed Regulations:

Article Issue Link Page
REG-118250-20 2022-07 I.R.B. 2022-07 753
 

Revenue Procedures:

Article Issue Link Page
2022-1 2022-01 I.R.B. 2022-01 1
2022-2 2022-01 I.R.B. 2022-01 120
2022-3 2022-01 I.R.B. 2022-01 144
2022-4 2022-01 I.R.B. 2022-01 161
2022-5 2022-01 I.R.B. 2022-01 256
2022-7 2022-01 I.R.B. 2022-01 297
2022-9 2022-02 I.R.B. 2022-02 310
2022-11 2022-03 I.R.B. 2022-03 449
2022-8 2022-04 I.R.B. 2022-04 451
2022-10 2022-06 I.R.B. 2022-06 473
2022-13 2022-06 I.R.B. 2022-06 477
2022-12 2022-07 I.R.B. 2022-07 494
2022-14 2022-07 I.R.B. 2022-07 502
 

Revenue Rulings:

Article Issue Link Page
2022-1 2022-02 I.R.B. 2022-02 301
2022-2 2022-04 I.R.B. 2022-04 451
2022-3 2022-06 I.R.B. 2022-06 467
2022-4 2022-10 I.R.B. 2022-10 790
2022-5 2022-10 I.R.B. 2022-10 792
 

Treasury Decisions:

Article Issue Link Page
9959 2022-03 I.R.B. 2022-03 328
9961 2022-03 I.R.B. 2022-03 430
9960 2022-07 I.R.B. 2022-07 481
 

1 A cumulative list of all revenue rulings, revenue procedures, Treasury decisions, etc., published in Internal Revenue Bulletins 2020–27 through 2020–52 is in Internal Revenue Bulletin 2020–52, dated December 27, 2021.

Finding List of Current Actions on Previously Published Items1

Bulletin 2022–10

How to get the Internal Revenue Bulletin

INTERNAL REVENUE BULLETIN

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