HIGHLIGHTS OF THIS ISSUE ADMINISTRATIVE ADMINISTRATIVE, INCOME TAX EMPLOYEE PLANS INCOME TAX The IRS Mission Introduction Part I Rev. Rul. 2022-10 Section 6621.—Determination of Rate of Interest Rev. Rul. 2022-11 Part III Notice 2022-25 Treatment of Amounts Paid to Section 170(c) Organizations under Employer Leave-Based Donation Programs to Aid Victims of the Further Russian Invasion of Ukraine Notice 2022-28 Definition of Terms Abbreviations Numerical Finding List1 Numerical Finding List Finding List of Current Actions on Previously Published Items1 How to get the Internal Revenue Bulletin INTERNAL REVENUE BULLETIN We Welcome Comments About the Internal Revenue Bulletin Internal Revenue Bulletin: 2022-23 June 6, 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. 2022-11, page 1159. Interest rates: underpayments and overpayments. The rates for interest determined under Section 6621 of the code for the calendar quarter beginning July 1, 2022, will be 5 percent for overpayments (4 percent in the case of a corporation), 5 percent for underpayments, and 7 percent for large corporate underpayments. The rate of interest paid on the portion of a corporate overpayment exceeding $10,000 will be 2.5 percent. 26 CFR 301.6621-1: Interest rate. ADMINISTRATIVE, INCOME TAX Notice 2022-28, page 1182. Notice 2022-28 provides guidance under the Internal Revenue Code (Code) to employees and employers using employer leave-based donation programs on the federal income and employment tax treatment of cash payments made by employers under such programs to aid victims of the further invasion of Ukraine by the Russian Federation beginning on February 24, 2022 (further Russian invasion of Ukraine). Under employer leave-based donation programs, employees may elect to forgo their accumulated leave and employers make cash donations up to the dollar amount of the forgone leave to tax-exempt entities described in section 170(c) of the Code (section 170(c) organizations) that provide aid to victims of the further Russian invasion of Ukraine. EMPLOYEE PLANS Notice 2022-25, page 1178. This notice sets forth updates on the corporate bond monthly yield curve, the corresponding spot segment rates for May 2022 used under § 417(e)(3)(D), the 24-month average segment rates applicable for May 2022, and the 30-year Treasury rates, as reflected by the application of § 430(h)(2)(C)(iv). INCOME TAX Rev. Rul. 2022-10, page 1157. 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 June 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. 2022-10 This revenue ruling provides various prescribed rates for federal income tax purposes for June 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. 2022-10 TABLE 1 Applicable Federal Rates (AFR) for June 2022 Period for Compounding Annual Semiannual Quarterly Monthly Short-term AFR 2.21% 2.20% 2.19% 2.19% 110% AFR 2.43% 2.42% 2.41% 2.41% 120% AFR 2.66% 2.64% 2.63% 2.63% 130% AFR 2.88% 2.86% 2.85% 2.84% 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 3.11% 3.09% 3.08% 3.07% 110% AFR 3.43% 3.40% 3.39% 3.38% 120% AFR 3.74% 3.71% 3.69% 3.68% 130% AFR 4.06% 4.02% 4.00% 3.99% REV. RUL. 2022-10 TABLE 2 Adjusted AFR for June 2022 Period for Compounding Annual Semiannual Quarterly Monthly Short-term adjusted AFR 1.68% 1.67% 1.67% 1.66% Mid-term adjusted AFR 2.22% 2.21% 2.20% 2.20% Long-term adjusted AFR 2.36% 2.35% 2.34% 2.34% REV. RUL. 2022-10 TABLE 3 Rates Under Section 382 for June 2022 Adjusted federal long-term rate for the current month 2.36% 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.) 2.36% REV. RUL. 2022-10 TABLE 4 Appropriate Percentages Under Section 42(b)(1) for June 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. 2022-10 TABLE 5 Rate Under Section 7520 for June 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% Section 42.—Low-Income Housing Credit The applicable federal short-term, mid-term, and long-term rates are set forth for the month of June 2022. See Rev. Rul. 2022-10, page 1157. Section 280G.—Golden Parachute Payments The applicable federal short-term, mid-term, and long-term rates are set forth for the month of June 2022. See Rev. Rul. 2022-10 page 1157. 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 June 2022. See Rev. Rul. 2022-10, page 1157. 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 June 2022. See Rev. Rul. 2022-10, page 1157. 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 June 2022. See Rev. Rul. 2022-10, page 1157. 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 June 2022. See Rev. Rul. 2022-10, page 1157. 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 June 2022. See Rev. Rul. 2022-10, page 1157. 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 June 2022. See Rev. Rul. 2022-10, page 1157. Section 7520.—Valuation Tables The applicable federal mid-term rates are set forth for the month of June 2022. See Rev. Rul. 2022-10, page 1157. 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 June 2022. See Rev. Rul. 2022-10, page 1157. Section 6621.—Determination of Rate of Interest Rev. Rul. 2022-11 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 April 2022 is the rate published in Revenue Ruling 2022-09, 2022-18 IRB 1041, to take effect beginning May 1, 2022. The federal short-term rate, rounded to the nearest full percent, based on daily compounding determined during the month of April 2022 is 2 percent. Accordingly, an overpayment rate of 5 percent (4 percent in the case of a corporation) and an underpayment rate of 5 percent are established for the calendar quarter beginning July 1, 2022. The overpayment rate for the portion of a corporate overpayment exceeding $10,000 for the calendar quarter beginning July 1, 2022, is 2.5 percent. The underpayment rate for large corporate underpayments for the calendar quarter beginning July 1, 2022, is 7 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 5 percent rate also applies to estimated tax underpayments for the third calendar quarter beginning July 1, 2022. In addition, pursuant to section 6603(d)(4), the rate of interest on section 6603 deposits is 2 percent for the third calendar quarter in 2022. Interest factors for daily compound interest for annual rates of 2.5 percent,4 percent, 5 percent and 7 percent are published in Tables 10, 13, 15 and 19 of Rev. Proc. 95-17, 1995-1 C.B. 564, 567, 569, and 573. 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 Jul. 1, 2022–Sep. 30, 2022 5% 15 569 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 Jul. 1, 2022–Sep. 30, 2022 4% 13 567 5% 15 569 TABLE OF INTEREST RATES FOR LARGE CORPORATE UNDERPAYMENTS FROM JANUARY 1, 1991 - PRESENT 1995-1 C.B. RATE TABLE PG 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 Jul. 1, 2022–Sep. 30, 2022 7% 19 573 TABLE OF INTEREST RATES FOR CORPORATE OVERPAYMENTS EXCEEDING $10,000 FROM JANUARY 1, 1995 – PRESENT 1995-1 C.B. RATE TABLE PG 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 Jul. 1, 2022–Sep. 30, 2022 2.5% 10 564 * 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 2022-25 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 April 2022 data is in Table 2022-4 at the end of this notice. The spot first, second, and third segment rates for the month of April 2022 are, respectively, 3.00, 4.22, and 4.17 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 May 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 May 2022 0.93 2.72 3.32 25-YEAR AVERAGE SEGMENT RATES Section 9706(a) of the American Rescue Plan Act of 2021, Pub. L. 117-2 (the ARP), which was enacted on March 11, 2021, changed the 25-year average segment rates and the applicable minimum and maximum percentages used under § 430(h)(2)(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 a 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 the ARP, these changes apply with respect to plan years beginning on or after January 1, 2020. However, § 9706(c)(2) of the 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 the ARP. These adjusted 24-month average segment rates apply only for plan years for which an election under § 9706(c)(2) of the ARP is not in effect. For a plan year for which such an election does not apply, the 24-month averages applicable for May 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 May 2022 4.75 5.36 6.11 2022 May 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 the ARP. These adjusted 24-month average segment rates apply only for plan years for which an election under § 9706(c)(2) of the ARP is in effect. For a plan year for which such an election applies, the 24-month averages applicable for May 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 May 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 April 2022 is 2.81 percent. The Service determined this rate as the average of the daily determinations of yield on the 30-year Treasury bond maturing in February 2052. For plan years beginning in May 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% May 2022 2.11 1.90 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 April 2022 are as follows: Minimum Present Value Segment Rates Month First Segment Second Segment Third Segment April 2022 3.00 4.22 4.17 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 toll-free numbers). 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 1.72 20.5 4.34 40.5 4.15 60.5 4.09 80.5 4.06 1.0 2.24 21.0 4.33 41.0 4.14 61.0 4.09 81.0 4.06 1.5 2.68 21.5 4.32 41.5 4.14 61.5 4.09 81.5 4.06 2.0 3.01 22.0 4.31 42.0 4.14 62.0 4.09 82.0 4.06 2.5 3.21 22.5 4.30 42.5 4.14 62.5 4.09 82.5 4.06 3.0 3.33 23.0 4.29 43.0 4.14 63.0 4.09 83.0 4.06 3.5 3.39 23.5 4.28 43.5 4.13 63.5 4.09 83.5 4.06 4.0 3.44 24.0 4.27 44.0 4.13 64.0 4.08 84.0 4.06 4.5 3.48 24.5 4.26 44.5 4.13 64.5 4.08 84.5 4.06 5.0 3.53 25.0 4.26 45.0 4.13 65.0 4.08 85.0 4.06 5.5 3.58 25.5 4.25 45.5 4.13 65.5 4.08 85.5 4.06 6.0 3.64 26.0 4.24 46.0 4.13 66.0 4.08 86.0 4.06 6.5 3.71 26.5 4.24 46.5 4.12 66.5 4.08 86.5 4.06 7.0 3.79 27.0 4.23 47.0 4.12 67.0 4.08 87.0 4.06 7.5 3.86 27.5 4.23 47.5 4.12 67.5 4.08 87.5 4.06 8.0 3.94 28.0 4.22 48.0 4.12 68.0 4.08 88.0 4.06 8.5 4.01 28.5 4.22 48.5 4.12 68.5 4.08 88.5 4.06 9.0 4.08 29.0 4.21 49.0 4.12 69.0 4.08 89.0 4.05 9.5 4.14 29.5 4.21 49.5 4.12 69.5 4.08 89.5 4.05 10.0 4.20 30.0 4.20 50.0 4.11 70.0 4.08 90.0 4.05 10.5 4.25 30.5 4.20 50.5 4.11 70.5 4.07 90.5 4.05 11.0 4.29 31.0 4.20 51.0 4.11 71.0 4.07 91.0 4.05 11.5 4.33 31.5 4.19 51.5 4.11 71.5 4.07 91.5 4.05 12.0 4.36 32.0 4.19 52.0 4.11 72.0 4.07 92.0 4.05 12.5 4.38 32.5 4.19 52.5 4.11 72.5 4.07 92.5 4.05 13.0 4.40 33.0 4.18 53.0 4.11 73.0 4.07 93.0 4.05 13.5 4.41 33.5 4.18 53.5 4.11 73.5 4.07 93.5 4.05 14.0 4.42 34.0 4.18 54.0 4.10 74.0 4.07 94.0 4.05 14.5 4.43 34.5 4.18 54.5 4.10 74.5 4.07 94.5 4.05 15.0 4.43 35.0 4.17 55.0 4.10 75.0 4.07 95.0 4.05 15.5 4.43 35.5 4.17 55.5 4.10 75.5 4.07 95.5 4.05 16.0 4.43 36.0 4.17 56.0 4.10 76.0 4.07 96.0 4.05 16.5 4.42 36.5 4.16 56.5 4.10 76.5 4.07 96.5 4.05 17.0 4.41 37.0 4.16 57.0 4.10 77.0 4.07 97.0 4.05 17.5 4.40 37.5 4.16 57.5 4.10 77.5 4.07 97.5 4.05 18.0 4.39 38.0 4.16 58.0 4.10 78.0 4.07 98.0 4.05 18.5 4.38 38.5 4.15 58.5 4.09 78.5 4.07 98.5 4.05 19.0 4.37 39.0 4.15 59.0 4.09 79.0 4.06 99.0 4.05 19.5 4.36 39.5 4.15 59.5 4.09 79.5 4.06 99.5 4.05 20.0 4.35 40.0 4.15 60.0 4.09 80.0 4.06 100.0 4.05 1 Pursuant to § 433(h)(3)(A), the third 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 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 the ARP apply or solely for purposes of determining the adjusted funding target attainment percentage under § 436 of the Code for the plan year. Treatment of Amounts Paid to Section 170(c) Organizations under Employer Leave-Based Donation Programs to Aid Victims of the Further Russian Invasion of Ukraine Notice 2022-28 The further invasion of Ukraine by the Russian Federation beginning on February 24, 2022 (further Russian invasion of Ukraine), has caused widespread loss of human life and other loss to the citizens and residents of Ukraine, including loss of shelter, food, medical care, and jobs. On March 2, 2022, the President of the United States announced a continuation of the national emergency with respect to Ukraine, as established in previous executive orders, because certain actions and policies of the Russian Federation further threaten the peace, stability, sovereignty, and territorial integrity of Ukraine.1 On March 3, 2022, the Department of Homeland Security announced that it has designated Ukraine for Temporary Protected Status.2 The Department of the Treasury and the Internal Revenue Service are aware that employers may have adopted or may be considering adopting employer leave-based donation programs to aid citizens and residents of Ukraine; individuals working, traveling, or currently present in Ukraine; or refugees from Ukraine, collectively referred to in this notice as “victims of the further Russian invasion of Ukraine.” This notice provides guidance under the Internal Revenue Code (Code) on the federal income and employment tax treatment of cash payments made by employers under leave-based donation programs to aid victims of the further Russian invasion of Ukraine. This guidance is similar to the guidance provided in Notice 2001-69, 2001-46 IRB 491, as modified and superseded by Notice 2003-1, 2003-2 IRB 257, regarding charitable relief following the September 11, 2001, terrorist attacks. EMPLOYER LEAVE-BASED DONATION PROGRAMS Under employer leave-based donation programs, employees can elect to forgo vacation, sick, or personal leave in exchange for their employers making cash payments to charitable organizations described in section 170(c) of the Code (section 170(c) organizations). Cash payments made by an employer to section 170(c) organizations under an employer leave-based donation program are referred to as “employer leave-based donation payments.” TREATMENT OF QUALIFIED EMPLOYER LEAVE-BASED DONATION PAYMENTS Employer leave-based donation payments made by an employer before January 1, 2023, to section 170(c) organizations to aid victims of the further Russian invasion of Ukraine (qualified employer leave-based donation payments) will not be treated as gross income or wages (or compensation, as applicable) of the employees of the employer. Similarly, employees electing or with an opportunity to elect to forgo leave that funds the qualified employer leave-based donation payments will not be treated as having constructively received gross income or wages (or compensation, as applicable). Employers should not include the amount of qualified employer leave-based donation payments in Box 1, 3 (if applicable), or 5 of the electing employees’ Form W-2. Electing employees are not eligible to claim a charitable contribution deduction under section 170 for the value of the forgone leave that funds qualified employer leave-based donation payments. An employer may deduct qualified employer leave-based donation payments under the rules of section 170 or the rules of section 162 if the employer otherwise meets the respective requirements of either section of the Code. DRAFTING INFORMATION For further information, please contact Clara L. Raymond of the Office of Associate Chief Counsel (Income Tax and Accounting) at (202) 317-4718 (not a toll-free call). 1 Notice of March 2, 2022: Continuation of the National Emergency With Respect to Ukraine, 87 F.R. 12387 (March 3, 2022). 2 https://www.dhs.gov/news/2022/03/03/secretary-mayorkas-designates-ukraine-temporary-protected-status-18-months. 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 2022–23 Announcements: Article Issue Link Page 2022-3 2022-8 I.R.B. 2022-08 788 2022-4 2022-9 I.R.B. 2022-09 789 2022-5 2022-11 I.R.B. 2022-11 825 2022-6 2022-13 I.R.B. 2022-13 934 2022-7 2022-15 I.R.B. 2022-15 946 2022-8 2022-19 I.R.B. 2022-19 1056 2022-9 2022-22 I.R.B. 2022-22 1153 2022-10 2022-22 I.R.B. 2022-22 1156 AOD: Article Issue Link Page 2022-1 2022-06 I.R.B. 2022-06 466 2022-2 2022-12 I.R.B. 2022-12 903 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 2022-12 2022-12 I.R.B. 2022-12 906 2022-11 2022-14 I.R.B. 2022-14 939 2022-13 2022-14 I.R.B. 2022-14 940 2022-14 2022-14 I.R.B. 2022-14 941 2022-15 2022-18 I.R.B. 2022-18 1043 2022-16 2022-18 I.R.B. 2022-18 1044 2022-17 2022-18 I.R.B. 2022-18 1048 2022-18 2022-18 I.R.B. 2022-18 1048 2022-19 2022-18 I.R.B. 2022-18 1050 2022-21 2022-20 I.R.B. 2022-20 1057 2022-22 2022-20 I.R.B. 2022-20 1057 2022-23 2022-20 I.R.B. 2022-20 1062 2022-20 2022-21 I.R.B. 2022-21 1095 2022-24 2022-21 I.R.B. 2022-21 1097 2022-27 2022-22 I.R.B. 2022-22 1151 2022-25 2022-23 I.R.B. 2022-23 1178 2022-28 2022-28 I.R.B. 2022-28 1182 Proposed Regulations: Article Issue Link Page REG-118250-20 2022-07 I.R.B. 2022-07 753 REG-105954-20 2022-11 I.R.B. 2022-11 828 REG-114209-21 2022-11 I.R.B. 2022-11 898 REG-114209-21 2022-11 I.R.B. 2022-11 898 REG-121508-18 2022-15 I.R.B. 2022-15 996 REG-114339-21 2022-17 I.R.B. 2022-17 1030 REG-106384-20 2022-20 I.R.B. 2022-20 1076 REG-118913-21 2022-20 I.R.B. 2022-20 1089 REG-122770-18 2022-21 I.R.B. 2022-21 1104 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 2022-15 2022-13 I.R.B. 2022-13 908 2022-17 2022-13 I.R.B. 2022-13 930 2022-17 2022-13 I.R.B. 2022-13 933 2022-20 2022-14 I.R.B. 2022-14 945 2022-21 2022-16 I.R.B. 2022-16 1015 2022-23 2022-18 I.R.B. 2022-18 1052 2022-24 2022-20 I.R.B. 2022-20 1075 2022-22 2022-21 I.R.B. 2022-21 1098 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 2022-6 2022-12 I.R.B. 2022-12 904 2022-7 2022-14 I.R.B. 2022-14 935 2022-8 2022-14 I.R.B. 2022-14 936 2022-9 2022-18 I.R.B. 2022-18 1041 2022-10 2022-23 I.R.B. 2022-23 1157 2022-11 2022-23 I.R.B. 2022-23 1159 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 9962 2022-11 I.R.B. 2022-11 823 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 2022–23 How to get the Internal Revenue Bulletin INTERNAL REVENUE BULLETIN The Introduction at the beginning of this issue describes the purpose and content of this publication. The weekly Internal Revenue Bulletins are available at www.irs.gov/irb/. We Welcome Comments About the Internal Revenue Bulletin If you have comments concerning the format or production of the Internal Revenue Bulletin or suggestions for improving it, we would be pleased to hear from you. You can email us your suggestions or comments through the IRS Internet Home Page www.irs.gov) or write to the Internal Revenue Service, Publishing Division, IRB Publishing Program Desk, 1111 Constitution Ave. NW, IR-6230 Washington, DC 20224.
