us-irs-revenue-rulings-irb-2022-10-pdf•Internal Revenue Bulletin 2022-10 (PDF rendition): IRS Revenue Rulings
Internal Revenue Bulletin 2022-10 (PDF rendition): IRS Revenue Rulings
us-irs-revenue-rulings-irb-2022-10-pdfInternal Revenue Bulletin 2022-10 (PDF rendition): IRS Revenue RulingsGuidance
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Bulletin No. 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 over- payment exceeding $10,000 will be 1.5 percent. 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 Febru- ary 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 lim- itation 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 provid- ed 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 oth- er sections of the Code, tables set forth the rates for March 2022. Finding Lists begin on page ii. The IRS Mission Provide America’s taxpayers top-quality service by helping them understand and meet their tax responsibilities and en- force 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 of- ficial 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 sub- stantive 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 other- wise indicated. Procedures relating solely to matters of inter- nal 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 rul- ings 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, disbar- ment 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. The contents of this publication are not copyrighted and may be reprinted freely. A citation of the Internal Revenue Bulletin as the source would be appropriate. March 7, 2022 Bulletin No. 2022–10 Part I Section 1274.— Determination of Issue Price in the Case of Certain Debt Instruments Issued for Property (Also, Sections 42, 280G, 382, 467, 468, 482, 483, 1288, 7520, 7872.) Rev. Rul. 2022-4 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 applica- ble 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 feder- al long-term rate and the long-term tax-exempt rate described in section 382(f). Table 4 contains the appropri- ate percentages for determining the low-income housing credit described in section 42(b)(1) for buildings placed in service during the current month. How- ever, under section 42(b)(2), the appli- cable percentage for non-federally sub- sidized 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 AnnualSemiannualQuarterlyMonthly Short-term AFR0.97%0.97%0.97%0.97% 110% AFR1.07%1.07%1.07%1.07% 120% AFR1.16%1.16%1.16%1.16% 130% AFR1.26%1.26%1.26%1.26% Mid-term AFR1.74%1.73%1.73%1.72% 110% AFR 1.91%1.90%1.90%1.89% 120% AFR2.09%2.08%2.07%2.07% 130% AFR2.26%2.25%2.24%2.24% 150% AFR2.62%2.60%2.59%2.59% 175% AFR3.05%3.03%3.02%3.01% Long-term AFR2.14%2.13%2.12%2.12% 110% AFR2.35%2.34%2.33%2.33% 120% AFR2.58%2.56%2.55%2.55% 130% AFR2.79%2.77%2.76%2.75% REV. RUL. 2022-4 TABLE 2 Adjusted AFR for March 2022 Period for Compounding AnnualSemiannualQuarterlyMonthly Short-term adjusted AFR0.74%0.74%0.74%0.74% Mid-term adjusted AFR1.31%1.31%1.31%1.31% Long-term adjusted AFR1.63%1.62%1.62%1.61% March 7, 2022 790 Bulletin No. 2022–10 REV. RUL. 2022-4 TABLE 3 Rates Under Section 382 for March 2022 Adjusted federal long-term rate for the current month1.63% 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 credit7.44% 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. Bulletin No. 2022–10 791 March 7, 2022 March 7, 2022 792 Bulletin No. 2022–10 Section 6621.— Determination of Rate of Interest 26 CFR 301.6621-1: Interest rate. Rev. Rul. 2022-05 Section 6621 of the Internal Reve- nue Code establishes the interest rates on overpayments and underpayments of tax. Under section 6621(a)(1), the over- payment rate is the sum of the federal short-term rate plus 3 percentage points (2 percentage points in the case of a corpo- ration), 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 percent- age points. Section 6621(c) provides that for pur- poses of interest payable under section 6601 on any large corporate underpay- ment, 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 Proce- dure and Administration for the definition of a large corporate underpayment and for the rules for determining the appli- cable date. Section 6621(c) and section 301.6621-3 are generally effective for pe- riods 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 cal- endar 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 calen- dar quarter beginning after that month. Section 6621(b)(3) provides that the fed- eral 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 near- est 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, an- nounced 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 dai- ly compounding. The federal short-term rate determined in accordance with section 1274(d) during January 2022 is the rate published in Rev- enue 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 com- pounding 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 under- payment rate of 4 percent are established for the calendar quarter beginning April 1, 2022. The overpayment rate for the por- tion of a corporate overpayment exceed- ing $10,000 for the calendar quarter be- ginning April 1, 2022 is 1.5 percent. The underpayment rate for large corporate un- derpayments for the calendar quarter be- ginning 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 es- tablished 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 esti- mated tax underpayments for the second calendar quarter beginning April 1, 2022. Pursuant to section 6621(b)(2)(B), in de- termining the addition to tax under sec- tion 6654 for any taxable year for an in- dividual, 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 follow- ing 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 pub - lished 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 compound- ed daily pursuant to section 6622 that ap- ply 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 informa- tion regarding this revenue ruling, contact Mr. Conrad at (202) 317-6844 (not a toll- free number). Bulletin No. 2022–10 793 March 7, 2022 APPENDIX A 365 Day Year 0.5% Compound Rate 184 Days DaysFactorDaysFactorDaysFactor 10.000013699630.0008633801250.001713784 20.000027397640.0008770911260.001727506 30.000041096650.0008908011270.001741228 40.000054796660.0009045121280.001754951 50.000068495670.0009182231290.001768673 60.000082195680.0009319341300.001782396 70.000095894690.0009456461310.001796119 80.000109594700.0009593571320.001809843 90.000123294710.0009730691330.001823566 100.000136995720.0009867811340.001837290 110.000150695730.0010004931350.001851013 120.000164396740.0010142061360.001864737 130.000178097750.0010279181370.001878462 140.000191798760.0010416311380.001892186 150.000205499770.0010553441390.001905910 160.000219201780.0010690571400.001919635 170.000232902790.0010827701410.001933360 180.000246604800.0010964841420.001947085 190.000260306810.0011101971430.001960811 200.000274008820.0011239111440.001974536 210.000287711830.0011376251450.001988262 220.000301413840.0011513391460.002001988 230.000315116850.0011650541470.002015714 240.000328819860.0011787681480.002029440 250.000342522870.0011924831490.002043166 260.000356225880.0012061981500.002056893 270.000369929890.0012199131510.002070620 280.000383633900.0012336291520.002084347 290.000397336910.0012473441530.002098074 300.000411041920.0012610601540.002111801 310.000424745930.0012747761550.002125529 320.000438449940.0012884921560.002139257 330.000452154950.0013022081570.002152985 340.000465859960.0013159251580.002166713 350.000479564970.0013296411590.002180441 360.000493269980.0013433581600.002194169 370.000506974990.0013570751610.002207898 380.0005206801000.0013707921620.002221627 390.0005343861010.0013845101630.002235356 400.0005480921020.0013982271640.002249085 410.0005617981030.0014119451650.002262815 March 7, 2022 794 Bulletin No. 2022–10 420.0005755041040.0014256631660.002276544 430.0005892111050.0014393811670.002290274 440.0006029171060.0014531001680.002304004 450.0006166241070.0014668181690.002317734 460.0006303311080.0014805371700.002331465 470.0006440391090.0014942561710.002345195 480.0006577461100.0015079751720.002358926 490.0006714541110.0015216941730.002372657 500.0006851611120.0015354141740.002386388 510.0006988691130.0015491331750.002400120 520.0007125781140.0015628531760.002413851 530.0007262861150.0015765731770.002427583 540.0007399951160.0015902931780.002441315 550.0007537031170.0016040141790.002455047 560.0007674121180.0016177341800.002468779 570.0007811211190.0016314551810.002482511 580.0007948311200.0016451761820.002496244 590.0008085401210.0016588971830.002509977 600.0008222501220.0016726191840.002523710 610.0008359601230.001686340 620.0008496701240.001700062 Bulletin No. 2022–10 795 March 7, 2022 366 Day Year 0.5% Compound Rate 184 Days DaysFactorDaysFactorDaysFactor 10.000013661630.0008610201250.001709097 20.000027323640.0008746931260.001722782 30.000040984650.0008883661270.001736467 40.000054646660.0009020401280.001750152 50.000068308670.0009157131290.001763837 60.000081970680.0009293871300.001777522 70.000095632690.0009430611310.001791208 80.000109295700.0009567351320.001804893 90.000122958710.0009704091330.001818579 100.000136620720.0009840841340.001832265 110.000150283730.0009977581350.001845951 120.000163947740.0010114331360.001859638 130.000177610750.0010251081370.001873324 140.000191274760.0010387831380.001887011 150.000204938770.0010524591390.001900698 160.000218602780.0010661341400.001914385 170.000232266790.0010798101410.001928073 180.000245930800.0010934861420.001941760 190.000259595810.0011071621430.001955448 200.000273260820.0011208391440.001969136 210.000286924830.0011345151450.001982824 220.000300590840.0011481921460.001996512 230.000314255850.0011618691470.002010201 240.000327920860.0011755461480.002023889 250.000341586870.0011892231490.002037578 260.000355252880.0012029001500.002051267 270.000368918890.0012165781510.002064957 280.000382584900.0012302561520.002078646 290.000396251910.0012439341530.002092336 300.000409917920.0012576121540.002106025 310.000423584930.0012712911550.002119715 320.000437251940.0012849691560.002133405 330.000450918950.0012986481570.002147096 340.000464586960.0013123271580.002160786 350.000478253970.0013260061590.002174477 360.000491921980.0013396851600.002188168 370.000505589990.0013533651610.002201859 380.0005192571000.0013670441620.002215550 390.0005329251010.0013807241630.002229242 400.0005465941020.0013944041640.002242933 410.0005602621030.0014080851650.002256625 420.0005739311040.0014217651660.002270317 March 7, 2022 796 Bulletin No. 2022–10 430.0005876001050.0014354461670.002284010 440.0006012691060.0014491271680.002297702 450.0006149391070.0014628081690.002311395 460.0006286081080.0014764891700.002325087 470.0006422781090.0014901701710.002338780 480.0006559481100.0015038521720.002352473 490.0006696181110.0015175331730.002366167 500.0006832891120.0015312151740.002379860 510.0006969591130.0015448971750.002393554 520.0007106301140.0015585801760.002407248 530.0007243011150.0015722621770.002420942 540.0007379721160.0015859451780.002434636 550.0007516431170.0015996281790.002448331 560.0007653151180.0016133111800.002462025 570.0007789861190.0016269941810.002475720 580.0007926581200.0016406781820.002489415 590.0008063301210.0016543611830.002503110 600.0008200031220.0016680451840.002516806 610.0008336751230.001681729 620.0008473481240.001695413 Bulletin No. 2022–10 797 March 7, 2022 TABLE OF INTEREST RATES PERIODS BEFORE JUL. 1, 1975 - PERIODS ENDING DEC. 31, 1986 OVERPAYMENTS AND UNDERPAYMENTS PERIODRATEIn 1995-1 C.B. DAILY RATE TABLE Before Jul. 1, 19756%Table 2,pg. 557 Jul.1,1975–Jan.31,19769%Table4,pg.559 Feb.1,1976–Jan.31,19787%Table3,pg.558 Feb.1,1978–Jan.31,19806%Table2,pg.557 Feb.1,1980–Jan.31,198212%Table5,pg.560 Feb.1,1982–Dec.31,198220%Table6,pg.560 Jan.1,1983–Jun.30,198316%Table37,pg.591 Jul.1,1983–Dec.31,198311%Table27,pg.581 Jan.1,1984–Jun.30,198411%Table75,pg.629 Jul.1,1984–Dec.31,198411%Table75,pg.629 Jan.1,1985–Jun.30,198513%Table31,pg.585 Jul.1,1985–Dec.31,198511%Table27,pg.581 Jan.1,1986–Jun.30,198610%Table25,pg.579 Jul.1,1986–Dec.31,19869%Table23,pg.577 TABLE OF INTEREST RATES FROM JAN. 1, 1987 – Dec. 31, 1998 OVERPAYMENTSUNDERPAYMENTS 1995-1 C.B.1995-1 C.B. RATE RATETABLEPGRATETABLEPG Jan.1,1987–Mar.31,19878%215759%23577 Apr.1,1987–Jun.30,19878%215759%23577 Jul.1,1987–Sep.30,19878%215759%23577 Oct.1,1987–Dec.31,19879%2357710%25579 Jan.1,1988–Mar.31,198810%7362711%75629 Apr.1,1988–Jun.30,19889%7162510%73627 Jul.1,1988–Sep.30,19889%7162510%73627 Oct.1,1988–Dec.31,198810%7362711%75629 Jan.1,1989–Mar.31,198910%2557911%27581 Apr.1,1989–Jun.30,198911%2758112%29583 Jul.1,1989–Sep.30,198911%2758112%29583 Oct.1,1989–Dec. 31,198910%2557911%27581 Jan.1,1990–Mar.31,199010%2557911%27581 Apr.1,1990–Jun.30,199010%2557911%27581 Jul.1,1990–Sep.30,199010%2557911%27581 Oct.1,1990–Dec.31,199010%2557911%27581 Jan.1,1991–Mar.31,199110%2557911%27581 Apr.1,1991–Jun.30,19919%2357710%25579 March 7, 2022 798 Bulletin No. 2022–10 Jul.1,1991–Sep.30,19919%2357710%25579 Oct.1,1991–Dec.31,19919%2357710%25579 Jan.1,1992–Mar.31,19928%696239%71625 Apr.1,1992–Jun.30,19927%676218%69623 Jul.1,1992–Sep.30,19927%676218%69623 Oct.1,1992–Dec.31,19926%656197%67621 Jan.1,1993–Mar.31,19936%175717%19573 Apr.1,1993–Jun.30,19936%175717%19573 Jul.1,1993–Sep.30,19936%175717%19573 Oct.1,1993–Dec.31,19936%175717%19573 Jan.1,1994–Mar.31,19946%175717%19573 Apr.1,1994–Jun.30,19946%175717%19573 Jul.1, 1994–Sep.30,19947%195738%21575 Oct.1,1994–Dec.31,19948%215759%23577 Jan.1,1995–Mar.31,19958%215759%23577 Apr.1,1995–Jun.30,19959%2357710%25579 Jul.1,1995–Sep.30,19958%215759%23577 Oct.1,1995–Dec.31,19958%215759%23577 Jan.1,1996–Mar.31,19968%696239%71625 Apr.1,1996–Jun.30,19967%676218%69623 Jul.1,1996–Sep.30,19968%696239%71625 Oct.1,1996–Dec.31,19968%696239%71625 Jan.1,1997–Mar.31,19978%215759%23577 Apr.1,1997–Jun.30,19978%215759%23577 Jul.1,1997–Sep.30, 19978%215759%23577 Oct.1,1997–Dec.31,19978%215759%23577 Jan.1,1998–Mar.31,19988%215759%23577 Apr.1,1998–Jun.30,19987%195738%21575 Jul.1,1998–Sep.30,19987%195738%21575 Oct.1,1998–Dec.31,19987%195738%21575 Bulletin No. 2022–10 799 March 7, 2022 TABLE OF INTEREST RATES FROM JANUARY 1, 1999 - PRESENT NONCORPORATE OVERPAYMENTS AND UNDERPAYMENTS 1995-1 C.B. RATETABLEPAGE Jan.1,1999–Mar.31,19997%19573 Apr.1,1999–Jun.30,19998%21575 Jul.1,1999–Sep.30,19998%21575 Oct.1,1999–Dec.31,19998%21575 Jan.1,2000–Mar.31,20008%69623 Apr.1,2000–Jun.30,20009%71625 Jul.1,2000–Sep.30,20009%71625 Oct.1,2000–Dec.31,20009%71625 Jan.1,2001–Mar.31,20019%23577 Apr.1,2001–Jun.30,20018%21575 Jul.1,2001–Sep.30,20017%19573 Oct.1,2001–Dec.31,20017%19573 Jan.1,2002–Mar.31,20026%17571 Apr.1,2002–Jun.30,20026%17571 Jul.1,2002–Sep.30,20026%17571 Oct.1,2002–Dec.31,20026%17571 Jan.1, 2003–Mar.31,20035%15569 Apr.1,2003–Jun.30,20035%15569 Jul.1,2003–Sep.30,20035%15569 Oct.1,2003–Dec.31,20034%13567 Jan.1,2004–Mar.31,20044%61615 Apr.1,2004–Jun.30,20045%63617 Jul.1,2004–Sep.30,20044%61615 Oct.1,2004–Dec.31,20045%63617 Jan.1,2005–Mar.31,20055%15569 Apr.1,2005–Jun.30,20056%17571 Jul.1,2005–Sep.30,20056%17571 Oct.1,2005–Dec.31,20057%19573 Jan.1,2006–Mar.31,20067%19573 Apr.1,2006–Jun.30,20067%19573 Jul.1,2006–Sep.30,20068%21575 Oct.1,2006–Dec.31,20068%21575 Jan.1,2007–Mar.31,20078%21575 Apr.1,2007–Jun.30,20078%21575 Jul.1,2007–Sep.30,20078%21575 Oct.1,2007–Dec.31,20078%21575 Jan.1,2008–Mar.31,20087%67621 Apr.1,2008–Jun.30,20086%65619 Jul.1,2008–Sep.30,20085%63617 Oct.1,2008–Dec.31,20086%65619 March 7, 2022 800 Bulletin No. 2022–10 Jan.1,2009–Mar.31,20095%15569 Apr.1,2009–Jun.30,20094%13567 Jul.1,2009–Sep.30,20094%13567 Oct.1,2009–Dec.31,20094%13567 Jan.1,2010–Mar.31,20104%13567 Apr.1,2010–Jun.30,20104%13567 Jul.1,2010–Sep.30,20104%13567 Oct.1,2010–Dec.31,20104%13567 Jan.1,2011–Mar.31,20113%11565 Apr.1,2011–Jun.30,20114%13567 Jul.1,2011–Sep.30,20114%13567 Oct.1,2011–Dec.31,20113%11565 Jan.1,2012–Mar.31,20123%59613 Apr.1,2012–Jun.30,20123%59613 Jul.1,2012–Sep.30,20123%59613 Oct.1,2012–Dec.31,20123%59613 Jan.1,2013–Mar.31,20133% 11565 Apr.1,2013–Jun.30,20133%11565 Jul.1,2013–Sep.30,20133%11565 Oct.1,2013–Dec.31,20133%11565 Jan.1,2014–Mar.31,20143%11565 Apr.1,2014–Jun.30,20143%11565 Jul.1,2014–Sep.30,20143%11565 Oct.1,2014–Dec.31,20143%11565 Jan.1,2015–Mar.31,20153%11565 Apr.1,2015–Jun.30,20153%11565 Jul.1,2015–Sep.30,20153%11565 Oct.1.2015–Dec.31,20153%11565 Jan.1,2016–Mar.31,20163%59613 Apr.1,2016–Jun.30,20164%61615 Jul.1,2016–Sep.30,20164%61615 Oct.1,2016–Dec.31,20164%61615 Jan.1,2017–Mar.31,20174%13567 Apr.1,2017–Jun.30, 20174%13567 Jul.1,2017–Sep.30,20174%13567 Oct.1,2017–Dec.31,20174%13567 Jan.1,2018–Mar.31,20184%13567 Apr.1,2018–Jun.30,20185%15569 Jul.1,2018–Sep.30,20185%15569 Oct.1,2018–Dec.31,20185%15569 Jan.1,2019–Mar.31,20196%17571 Apr.1,2019–Jun.30,20196%17571 Jul.1,2019–Sep.30,20195%15569 Oct.1,2019–Dec. 31,20195%15569 Jan.1,2020–Mar.31, 20205%63617 Bulletin No. 2022–10 801 March 7, 2022 Apr.1,2020–Jun.30,20205%63617 Jul.1,2020–Sep.30,20203%59613 Oct.1,2020–Dec. 31,20203%59613 Jan.1,2021–Mar. 31,20213%11565 Apr.1,2021–Jun.30,20213%11565 Jul.1,2021–Sep.30,20213%11565 Oct.1,2021–Dec.31,20213%11565 Jan.1,2022–Mar.31,20223%11565 Apr.1,2022–Jun.30,20224%13567 March 7, 2022 802 Bulletin No. 2022–10 TABLE OF INTEREST RATES FROM JANUARY 1, 1999 - PRESENT CORPORATE OVERPAYMENTS AND UNDERPAYMENTS OVERPAYMENTSUNDERPAYMENTS 1995-1 C.B.1995-1 C.B. RATETABLEPGRATETABLEPG Jan.1,1999–Mar.31,19996%175717%19573 Apr.1,1999–Jun.30,19997%195738%21575 Jul.1,1999–Sep.30,19997%195738%21575 Oct.1,1999–Dec.31,19997%195738%21575 Jan.1,2000–Mar.31,20007%676218%69623 Apr.1,2000–Jun.30,20008%696239%71625 Jul.1,2000–Sep.30,20008%696239%71625 Oct.1,2000–Dec.31,20008%696239%71625 Jan.1,2001–Mar.31,20018%215759%23577 Apr.1,2001–Jun.30,20017%195738%21575 Jul.1,2001–Sep.30,20016%175717%19573 Oct.1,2001–Dec. 31,20016%175717%19573 Jan.1,2002–Mar.31,20025%155696%17571 Apr.1,2002–Jun.30,20025%155696%17571 Jul.1,2002–Sep.30,20025%155696%17571 Oct.1,2002–Dec.31,20025%155696%17571 Jan.1,2003–Mar.31,20034%135675%15569 Apr.1,2003–Jun.30,20034%135675%15569 Jul.1,2003–Sep.30,20034%135675%15569 Oct.1,2003–Dec.31,20033%115654%13567 Jan.1,2004–Mar.31,20043%596134%61615 Apr.1,2004–Jun.30,20044%616155%63617 Jul.1,2004–Sep.30,20043%596134%61615 Oct.1,2004–Dec.31,2004 4%616155%63617 Jan.1,2005–Mar.31,20054%135675%15569 Apr.1,2005–Jun.30,20055%155696%17571 Jul.1,2005–Sep.30,20055%155696%17571 Oct.1,2005–Dec.31,20056%175717%19573 Jan.1,2006–Mar.31,20066%175717%19573 Apr.1,2006–Jun.30,20066%175717%19573 Jul.1,2006–Sep.30,20067%195738%21575 Oct.1,2006–Dec.31,20067%195738%21575 Jan.1,2007–Mar.31,20077%195738%21575 Apr.1,2007–Jun.30,20077%195738%21575 Jul.1,2007–Sep.30,20077%195738%21575 Oct.1,2007–Dec.31,20077%19 5738%21575 Jan.1,2008–Mar.31,20086%656197%67621 Apr.1,2008–Jun.30,20085%636176%65619 Jul.1,2008–Sep.30,20084%616155%63617 Oct.1,2008–Dec.31,20085%636176%65619 Bulletin No. 2022–10 803 March 7, 2022 Jan.1,2009–Mar.31,20094%135675%15569 Apr.1,2009–Jun.30,20093%115654%13567 Jul.1,2009–Sep.30,20093%115654%13567 Oct.1,2009–Dec.31,20093%115654%13567 Jan.1,2010–Mar.31,20103%115654%13567 Apr.1,2010–Jun.30,20103%115654%13567 Jul.1,2010–Sep.30,20103%115654%13567 Oct.1,2010–Dec.31,20103%115654%13567 Jan.1,2011–Mar.31,20112%95633%11565 Apr.1,2011–Jun.30,20113%115654%13567 Jul.1,2011–Sep.30,20113%115654%13567 Oct.1,2011–Dec.31,20112%95633%11565 Jan.1, 2012–Mar.31,20122%576113%59613 Apr.1,2012–Jun.30,20122%576113%59613 Jul.1,2012–Sep.30,20122%576113%59613 Oct.1,2012–Dec.31,20122%576113%59613 Jan.1,2013–Mar.31,20132%95633%11565 Apr.1,2013–Jun.30,20132%95633%11565 Jul.1,2013–Sep.30,20132%95633%11565 Oct.1,2013–Dec.31,20132%95633%11565 Jan.1,2014–Mar.31,20142%95633%11565 Apr.1,2014–Jun.30,20142%95633%11565 Jul.1,2014–Sep.30,20142%95633%11565 Oct.1,2014–Dec.31,20142%95633%11565 Jan.1,2015–Mar.31, 20152%95633%11565 Apr.1,2015–Jun.30,20152%95633%11565 Jul.1,2015–Sep.30,20152%95633%11565 Oct.1,2015–Dec.31,20152%95633%11565 Jan.1,2016–Mar.31,20162%576113%59613 Apr.1,2016–Jun.30,20163%596134%61615 Jul.1,2016–Sep.30,20163%596134%61615 Oct.1,2016–Dec.31,20163%596134%61615 Jan.1,2017–Mar.31,20173%115654%13567 Apr.1,2017–Jun.30,20173%115654%13567 Jul.1,2017–Sep.30,20173%115654%13567 Oct.1,2017–Dec.31,20173%115654%13567 Jan.1,2018–Mar.31,20183% 115654%13567 Apr.1,2018–Jun.30,20184%135675%15569 Jul.1,2018–Sep.30,20184%135675%15569 Oct.1,2018–Dec.31,20184%135675%15569 Jan.1,2019–Mar.31,20195%155696%17571 Apr.1,2019–Jun.30,20195%155696%17571 Jul.1,2019–Sep.30,20194%135675%15569 Oct.1,2019–Dec.31,20194%135675%15569 Jan.1,2020–Mar. 31,20204%616155%63617 March 7, 2022 804 Bulletin No. 2022–10 Apr.1,2020–Jun.30,20204%616155%63617 Jul.1,2020–Sep.30,20202%576113%59613 Oct.1,2020–Dec.31,20202%576113%59613 Jan.1,2021–Mar.31,20212% 95633%11565 Apr.1,2021–Jun.30,20212% 95633%11565 Jul.1,2021–Sep.30,20212% 95633%11565 Oct.1,2021–Dec.31,20212% 95633%11565 Jan.1,2022–Mar.31,20222% 95633%11565 Apr.1,2022–Jun.30,20223%115654%13567 Bulletin No. 2022–10 805 March 7, 2022 TABLE OF INTEREST RATES FOR LARGE CORPORATE UNDERPAYMENTS FROM JANUARY 1, 1991 - PRESENT 1995-1 C.B. RATETABLEPG Jan.1,1991–Mar.31,199113%31585 Apr.1,1991–Jun.30,199112%29583 Jul.1,1991–Sep.30,199112%29583 Oct.1,1991–Dec.31,199112%29583 Jan.1,1992–Mar.31,199211%75629 Apr.1,1992–Jun.30,199210%73627 Jul.1,1992–Sep.30,199210%73627 Oct.1,1992–Dec.31,19929%71625 Jan.1,1993–Mar.31,19939%23577 Apr.1,1993–Jun.30,19939%23577 Jul.1,1993–Sep.30,19939%23577 Oct.1,1993–Dec.31,19939%23577 Jan.1,1994–Mar.31,19949%23577 Apr.1,1994–Jun.30,19949%23577 Jul.1,1994–Sep.30,199410%25579 Oct.1,1994–Dec.31,199411%27581 Jan.1, 1995–Mar.31,199511%27581 Apr.1,1995–Jun.30,199512%29583 Jul.1,1995–Sep.30,199511%27581 Oct.1,1995–Dec.31,199511%27581 Jan.1,1996–Mar.31,199611%75629 Apr.1,1996–Jun.30,199610%73627 Jul.1,1996–Sep.30,199611%75629 Oct.1,1996–Dec.31,199611%75629 Jan.1,1997–Mar.31,199711%27581 Apr.1,1997–Jun.30,199711%27581 Jul.1,1997–Sep.30,199711%27581 Oct.1,1997–Dec.31,199711%27581 Jan.1,1998–Mar.31,199811%27581 Apr.1,1998–Jun.30,199810%25579 Jul.1,1998–Sep.30,199810%25579 Oct.1,1998–Dec.31,199810%25579 Jan.1,1999–Mar.31,19999%23577 Apr.1,1999–Jun.30,199910%25579 Jul.1,1999–Sep.30,199910%25579 Oct.1,1999–Dec.31,199910%25579 Jan.1,2000–Mar.31,200010%73627 Apr.1,2000–Jun.30,200011%75629 Jul.1,2000–Sep.30,200011%75629 Oct.1,2000–Dec.31,200011%75629 Jan.1,2001–Mar.31,200111%27581 March 7, 2022 806 Bulletin No. 2022–10 Apr.1,2001–Jun.30,200110%25579 Jul.1,2001–Sep.30,20019%23577 Oct.1,2001–Dec.31,20019%23577 Jan.1,2002–Mar.31,20028%21575 Apr.1,2002–Jun.30,20028%21575 Jul.1,2002–Sep.30,20028%21575 Oct.1,2002–Dec.31,20028%21575 Jan.1,2003–Mar.31,20037%19573 Apr.1,2003–Jun.30,20037%19573 Jul.1,2003–Sep.30,20037%19573 Oct.1,2003–Dec.31,20036%17571 Jan.1,2004–Mar.31,20046%65619 Apr.1,2004–Jun.30,20047%67621 Jul.1,2004–Sep.30,20046%65619 Oct.1,2004–Dec.31,20047%67621 Jan.1,2005–Mar.31,20057%19573 Apr.1,2005–Jun.30,20058% 21575 Jul.1,2005–Sep.30,20058%21575 Oct.1,2005–Dec.31,20059%23577 Jan.1,2006–Mar.31,20069%23577 Apr.1,2006–Jun.30,20069%23577 Jul.1,2006–Sep.30,200610%25579 Oct.1,2006–Dec.31,200610%25579 Jan.1,2007–Mar.31,200710%25579 Apr.1,2007–Jun.30,200710%25579 Jul.1,2007–Sep.30,200710%25579 Oct.1,2007–Dec.31,200710%25579 Jan.1,2008–Mar.31,20089%71625 Apr.1,2008–Jun.30,20088%69623 Jul.1,2008–Sep.30,20087%67621 Oct.1,2008–Dec.31,20088%69623 Jan.1,2009–Mar.31,20097%19573 Apr.1,2009–Jun.30,20096%17571 Jul.1,2009–Sep.30, 20096%17571 Oct.1,2009–Dec.31,20096%17571 Jan.1,2010–Mar.31,20106%17571 Apr.1,2010–Jun.30,20106%17571 Jul.1,2010–Sep.30,20106%17571 Oct.1,2010–Dec.31,20106%17571 Jan.1,2011–Mar.31,20115%15569 Apr.1,2011–Jun.30,20116%17571 Jul.1,2011–Sep.30,20116%17571 Oct.1,2011–Dec.31,20115%15569 Jan.1,2012–Mar.31,20125%63617 Apr.1,2012–Jun.30,20125%63617 Bulletin No. 2022–10 807 March 7, 2022 Jul.1,2012–Sep.30,20125%63617 Oct.1,2012–Dec.31,20125%63617 Jan.1,2013–Mar.31,20135%15569 Apr.1,2013–Jun.30,20135%15569 Jul.1,2013–Sep.30,20135%15569 Oct.1,2013–Dec.31,20135%15569 Jan.1,2014–Mar.31,20145%15569 Apr.1,2014–Jun.30,20145%15569 Jul.1,2014–Sep.30,20145%15569 Oct.1,2014–Dec.31,20145%15569 Jan.1,2015–Mar.31,20155%15569 Apr.1,2015–Jun.30,20155%15569 Jul.1,2015–Sep.30,20155%15569 Oct.1,2015–Dec.31,20155%15569 Jan.1,2016–Mar.31,20165%63617 Apr.1,2016–Jun.30,20166%65619 Jul.1,2016–Sep.30,20166% 65619 Oct.1,2016–Dec.31,20166%65619 Jan.1,2017–Mar.31,20176%17571 Apr.1,2017–Jun.30,20176%17571 Jul.1,2017–Sep.30,20176%17571 Oct.1,2017–Dec.31,20176%17571 Jan.1,2018–Mar.31,20186%17571 Apr.1,2018–Jun.30,20187%19573 Jul.1,2018–Sep.30,20187%19573 Oct.1,2018–Dec.31,20187%19573 Jan.1,2019–Mar.31,20198%21575 Apr.1,2019–Jun.30,20198%21575 Jul.1,2019–Sep.30,20197%19573 Oct.1,2019–Dec.31,20197%19573 Jan.1,2020–Mar.31,20207%67621 Apr.1,2020–Jun. 30,20207%67621 Jul.1,2020–Sep.30,20205%63617 Oct.1,2020–Dec.31, 20205%63617 Jan.1,2021–Mar.31,20215%15569 Apr.1,2021–Jun.30,20215%15569 Jul.1,2021–Sep.30,20215%15569 Oct.1,2021–Dec.31,20215%15569 Jan.1,2022–Mar.31,20225%15569 Apr.1,2022–Jun.30,20226%17571 March 7, 2022 808 Bulletin No. 2022–10 TABLE OF INTEREST RATES FOR CORPORATE OVERPAYMENTS EXCEEDING $10,000 FROM JANUARY 1, 1995 – PRESENT 1995-1 C.B. RATETABLEPG Jan.1,1995–Mar.31,19956.5%18572 Apr.1,1995–Jun.30,19957.5%20574 Jul.1,1995–Sep.30,19956.5%18572 Oct.1,1995–Dec.31,19956.5%18572 Jan.1,1996–Mar.31,19966.5%66620 Apr.1,1996–Jun.30,19965.5%64618 Jul.1,1996–Sep.30,19966.5%66620 Oct.1,1996–Dec.31,19966.5%66620 Jan.1,1997–Mar.31,19976.5%18572 Apr.1,1997–Jun.30,19976.5%18572 Jul.1,1997–Sep.30,19976.5%18572 Oct.1,1997–Dec.31,19976.5%18572 Jan.1,1998–Mar.31,19986.5%18572 Apr.1,1998–Jun.30,19985.5%16570 Jul.1.1998–Sep.30,19985.5%16570 Oct.1,1998–Dec.31,19985.5%16570 Jan.1, 1999–Mar.31,19994.5%14568 Apr.1,1999–Jun.30,19995.5%16570 Jul.1,1999–Sep.30,19995.5%16570 Oct.1,1999–Dec.31,19995.5%16570 Jan.1,2000–Mar.31,20005.5%64618 Apr.1,2000–Jun.30,20006.5%66620 Jul.1,2000–Sep.30,20006.5%66620 Oct.1,2000–Dec.31,20006.5%66620 Jan.1,2001–Mar.31,20016.5%18572 Apr.1,2001–Jun.30,20015.5%16570 Jul.1,2001–Sep.30,20014.5%14568 Oct.1,2001–Dec.31,20014.5%14568 Jan.1,2002–Mar.31,20023.5%12566 Apr.1,2002–Jun.30,20023.5%12566 Jul.1,2002–Sep.30,20023.5%12566 Oct.1,2002–Dec.31,20023.5%12566 Jan.1,2003–Mar.31,20032.5%10564 Apr.1,2003–Jun.30,20032.5%10564 Jul.1,2003–Sep.30,20032.5%10564 Oct.1,2003–Dec.31,20031.5%8562 Jan.1,2004–Mar.31,20041.5%56610 Apr.1,2004–Jun.30,20042.5%58612 Bulletin No. 2022–10 809 March 7, 2022 Jul.1,2004–Sep.30,20041.5%56610 Oct.1,2004–Dec.31,20042.5%58612 Jan.1,2005–Mar.31,20052.5%10564 Apr.1,2005–Jun.30,20053.5%12566 Jul.1,2005–Sep.30,20053.5%12566 Oct.1,2005–Dec.31,20054.5%14568 Jan.1,2006–Mar.31,20064.5%14568 Apr.1,2006–Jun.30,20064.5%14568 Jul.1,2006–Sep.30,20065.5%16570 Oct.1,2006–Dec.31,20065.5%16570 Jan.1,2007–Mar.31,20075.5%16570 Apr.1,2007–Jun.30,20075.5%16570 Jul.1,2007–Sep.30,20075.5%16570 Oct.1,2007–Dec.31,20075.5%16570 Jan.1,2008–Mar.31,20084.5%62616 Apr.1,2008–Jun.30,20083.5%60614 Jul.1,2008–Sep.30,20082.5% 58612 Oct.1,2008–Dec.31,20083.5%60614 Jan.1,2009–Mar.31,20092.5%10564 Apr.1,2009–Jun.30,20091.5%8562 Jul.1,2009–Sep.30,20091.5%8562 Oct.1,2009–Dec.31,20091.5%8562 Jan.1,2010–Mar.31,20101.5%8562 Apr.1,2010–Jun.30,20101.5%8562 Jul.1,2010–Sep.30,20101.5%8562 Oct.1,2010–Dec.31,20101.5%8562 Jan.1,2011–Mar.31,20110.5%* Apr.1,2011–Jun.30,20111.5%8562 Jul.1,2011–Sep.30,20111.5%8562 Oct.1,2011–Dec.31,20110.5%* Jan.1,2012–Mar.31,20120.5%* Apr.1,2012–Jun.30,20120.5%* Jul.1,2012–Sep.30,20120.5%* Oct.1,2012–Dec.31,20120.5%* Jan.1,2013–Mar.31,20130.5%* Apr.1, 2013–Jun.30,20130.5%* Jul.1,2013–Sep.30,20130.5%* Oct.1,2013–Dec.31,20130.5%* Jan.1,2014–Mar.31,20140.5%* Apr.1,2014–Jun.30,20140.5%* Jul.1,2014–Sep.30,20140.5%* Oct.1,2014–Dec.31,20140.5%* March 7, 2022 810 Bulletin No. 2022–10 Jan.1,2015–Mar.31,20150.5%* Apr.1,2015–Jun.30,20150.5%* Jul.1,2015–Sep.30,20150.5%* Oct.1,2015–Dec.31,20150.5%* Jan.1,2016–Mar.31,20160.5%* Apr.1,2016–Jun.30,20161.5%56610 Jul.1,2016–Sep.30,20161.5%56610 Oct.1,2016–Dec.31,20161.5%56610 Jan.1,2017–Mar.31,20171.5%8562 Apr.1,2017–Jun.30,20171.5%8562 Jul.1,2017–Sep.30,20171.5%8562 Oct.1,2017–Dec.31,20171.5%8562 Jan.1,2018–Mar.31,20181.5%8562 Apr.1,2018–Jun.30,20182.5%10564 Jul.1,2018–Sep.30,20182.5%10564 Oct.1,2018–Dec.31,20182.5%10564 Jan.1,2019–Mar.31,20193.5%12566 Apr.1,2019–Jun.30,20193.5%12566 Jul.1,2019–Sep.30,20192.5%10564 Oct.1,2019–Dec. 31,20192.5%10564 Jan.1,2020–Mar.31,20202.5%58612 Apr.1,2020–Jun.30,20202.5%58612 Jul.1,2020–Sep.30,20200.5%* Oct.1,2020–Dec.31, 20200.5%* Jan.1,2021–Mar.31,20210.5%* Apr.1,2021–Jun. 30,20210.5%* Jul.1,2021–Sep.30,20210.5%* Oct.1,2021–Dec.31,20210.5%* Jan.1,2022–Mar.31, 20220.5%* Apr.1,2022–Jun.30,20221.5%8562 * 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. Bulletin No. 2022–10 811 March 7, 2022 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 aver- age 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 sin- gle-employer plans (except for CSEC plans under § 414(y)) pursuant to § 412. Section 430(h)(2) specifies the inter- est rates that must be used to determine a plan’s target normal cost and funding target. Under this provision, present val- ue is generally determined using three 24-month average interest rates (“segment rates”), each of which applies to cash flows during specified periods. To the ex- tent provided under § 430(h)(2)(C)(iv), these segment rates are adjusted by the ap- plicable percentage of the 25-year average segment rates for the period ending Sep- tember 30 of the year preceding the cal- endar 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. Con- sistent 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 Janu- ary 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 appli- cable minimum and maximum percent- ages of the corresponding 25-year aver- age 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, respective- ly. 24-MONTH AVERAGE CORPORATE BOND SEGMENT RATES The three 24-month average corporate bond segment rates applicable for Febru- ary 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 Res- cue Plan Act of 2021, Pub. L. No. 117-2 (ARP), which was enacted on March 11, 2021, changes the 25-year average seg- ment 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 min- imum 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 max- imum 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 be- ginning before January 1, 2022. 4 The adjusted 24-month average seg- ment 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 Feb- 1 Pursuant to § 433(h)(3)(A), the 3 rd 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 per- centage under § 436 of the Code for the plan year. March 7, 2022 812 Bulletin No. 2022–10 ruary 2022, adjusted to be within the applicable minimum and maximum per- centages 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 2021February 20224.755.366.11 2022February 20224.755.185.92 The adjusted 24-month average seg- ment 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 min- imum 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 2021February 20223.324.795.47 30-YEAR TREASURY SECURITIES INTEREST RATES Section 431 specifies the minimum funding requirements that apply to multi- employer 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) pro- vides that the interest rate used to calcu- late 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 Trea- sury 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 lia- bility are as follows: Treasury Weighted Average Rates For Plan Years Beginning In 30-Year Treasury Weighted Average Permissible Range 90% to 105% February 20222.101.89 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 guide- lines for determining the minimum pres- ent value segment rates. Pursuant to that notice, the minimum present value seg- ment 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 Bulletin No. 2022–10 813 March 7, 2022 DRAFTING INFORMATION The principal author of this notice is Tom Morgan of the Office of the Asso- ciate 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). March 7, 2022 814 Bulletin No. 2022–10 Table 2022-1 Monthly Yield Curve for January 2022 Derived from January 2022 Data MaturityYieldMaturityYieldMaturityYieldMaturityYieldMaturityYield 0.50.4120.53.3640.53.3660.53.3780.53.37 1.00.7621.03.3641.03.3661.03.3781.03.37 1.51.0721.53.3641.53.3661.53.3781.53.37 2.01.3122.03.3542.03.3662.03.3782.03.37 2.51.4922.53.3542.53.3662.53.3782.53.37 3.01.6223.03.3543.03.3663.03.3783.03.37 3.51.7223.53.3543.53.3663.53.3783.53.37 4.01.8224.03.3544.03.3664.03.3784.03.37 4.51.9124.53.3544.53.3664.53.3784.53.37 5.02.0025.03.3545.03.3665.03.3785.03.37 5.52.1025.53.3545.53.3665.53.3785.53.37 6.02.2026.03.3546.03.3666.03.3786.03.37 6.52.3026.53.3546.53.3666.53.3786.53.37 7.02.4027.03.3547.03.3667.03.3787.03.37 7.52.5027.53.3547.53.3667.53.3787.53.37 8.02.6028.03.3548.03.3668.03.3788.03.37 8.52.6928.53.3548.53.3668.53.3788.53.37 9.02.7829.03.3549.03.3669.03.3789.03.37 9.52.8629.53.3549.53.3669.53.3789.53.37 10.02.9330.03.3550.03.3770.03.3790.03.37 10.52.9930.53.3550.53.3770.53.3790.53.37 11.03.0531.03.3551.03.3771.03.3791.03.38 11.53.1131.53.3551.53.3771.53.3791.53.38 12.03.1532.03.3552.03.3772.03.3792.03.38 12.53.1932.53.3552.53.3772.53.3792.53.38 13.03.2333.03.3553.03.3773.03.3793.03.38 13.53.2533.53.3553.53.3773.53.3793.53.38 14.03.2834.03.3554.03.3774.03.3794.03.38 14.53.3034.53.3654.53.3774.53.3794.53.38 15.03.3135.03.3655.03.3775.03.3795.03.38 15.53.3335.53.3655.53.3775.53.3795.53.38 16.03.3436.03.3656.03.3776.03.3796.03.38 16.53.3436.53.3656.53.3776.53.3796.53.38 17.03.3537.03.3657.03.3777.03.3797.03.38 17.53.3537.53.3657.53.3777.53.3797.53.38 18.03.3638.03.3658.03.3778.03.3798.03.38 18.53.3638.53.3658.53.3778.53.3798.53.38 19.03.3639.03.3659.03.3779.03.3799.03.38 19.53.3639.53.3659.53.3779.53.3799.53.38 20.03.3640.03.3660.03.3780.03.37100.03.38 Bulletin No. 2022–10 815 March 7, 2022 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 pur- poses of section 911 of the Internal Rev- enue Code for specific locations for 2022. These adjustments are based on geograph- ic differences in housing costs relative to housing costs in the United States. SECTION 2. BACKGROUND Section 911 allows a qualified individ- ual 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). Spe- cifically, 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 indi- vidual 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 ex- clusion amount. Specifically, the limit on such housing expenses generally equals 30 percent of the maximum foreign earned income exclusion amount (com- puted on a daily basis), multiplied by the number of days in the applicable peri- od 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 tax- able year is within the applicable period is limited to maximum housing expens- es of $33,600 ($112,000 x .30) for 2022. However, section 911(c)(2)(B) authoriz- es the Secretary to issue regulations or other guidance to adjust the percentage under section 911(c)(2)(A)(i) (which de- termines the limit on housing expenses) based on geographic differences in hous- ing 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. CountryLocationLimitation on Housing Expenses (full year) Limitation on Housing Expenses (daily) AngolaLuanda84,000230.14 ArgentinaBuenos Aires56,500154.79 AustraliaCanberra36,800100.82 AustraliaSydney70,800193.97 Bahamas, TheNassau49,700136.16 BahrainBahrain48,300132.33 BarbadosBarbados37,700103.29 BarbadosBridgetown37,700103.29 BelgiumBrussels41,400113.42 BelgiumGosselies36,900101.10 BelgiumMons36,900101.10 BelgiumSHAPE/Chievres36,900101.10 BermudaBermuda90,000246.58 BrazilRio de Janeiro35,10096.16 BrazilSao Paulo56,600155.07 CanadaCalgary40,800111.78 CanadaMontreal55,500152.05 CanadaOttawa47,000128.77 March 7, 2022 816 Bulletin No. 2022–10 CountryLocationLimitation on Housing Expenses (full year) Limitation on Housing Expenses (daily) CanadaQuebec36,00098.63 CanadaToronto63,200173.15 CanadaVancouver49,700136.16 CanadaVictoria41,100112.60 Cayman IslandsGrand Cayman48,000131.51 ChinaBeijing76,400209.32 ChinaHong Kong114,300313.15 ChinaShanghai57,001156.17 ColombiaBogota58,700160.82 ColombiaAll cities other than Bogota49,400135.34 Costa RicaSan Jose37,800103.56 Democratic Republic of the Congo Kinshasa42,000115.07 DenmarkCopenhagen43,704119.74 Dominican RepublicSanto Domingo45,500124.66 EcuadorQuito38,200104.66 EstoniaTallinn46,600127.67 FranceGarches71,000194.52 FranceLyon39,300107.67 FranceMarseille38,300104.93 FranceParis71,000194.52 FranceSevres71,000194.52 FranceSuresnes71,000194.52 FranceVersailles71,000194.52 GermanyBabenhausen34,80095.34 GermanyBaumholder34,60094.79 GermanyBerlin42,500116.44 GermanyBirkenfeld34,60094.79 GermanyBoeblingen42,300115.89 GermanyBonn42,000115.07 GermanyCologne56,200153.97 GermanyDarmstadt34,80095.34 GermanyDulmen34,20093.70 GermanyFrankfurt am Main36,30099.45 GermanyGelnhausen43,900120.27 GermanyGiessen36,00098.63 GermanyGrafenwoehr35,20096.44 GermanyHanau47,200129.32 GermanyIdar-Oberstein34,60094.79 GermanyIngolstadt49,700136.16 GermanyKaiserslautern, Landkreis43,700119.73 GermanyKoblenz34,20093.70 GermanyLudwigsburg42,300115.89 Bulletin No. 2022–10 817 March 7, 2022 CountryLocationLimitation on Housing Expenses (full year) Limitation on Housing Expenses (daily) GermanyMainz48,700133.42 GermanyMunich49,700136.16 GermanyNellingen42,300115.89 GermanyNeubruecke34,60094.79 GermanyOber Ramstadt34,80095.34 GermanyPfullendorf34,20093.70 GermanyPirmasens43,700119.73 GermanySembach43,700119.73 GermanyStuttgart42,300115.89 GermanyVilseck35,20096.44 GermanyWahn42,000115.07 GermanyWiesbaden48,700133.42 GermanyZweibrueken43,700119.73 GermanyAll cities other than Augsburg, Babenhausen, Bad Aibling, Bad Kreuznach, Bad Nauheim, Baumholder, Berchtesgaden, Berlin, Birken- feld, Boeblingen, Bonn, Bremen, Bremerhav- en, Butzbach, Cologne, Darmstadt, Del- menhorst, Duesseldorf, Dulmen, Erlangen, Flensburg, Frankfurt am Main, Friedberg, Fuerth, Garlstedt, Garmisch- Partenkirchen, Geilenkirchen, Gelnhausen, Germersheim, Giebelstadt, Giessen, Grafenwoehr, Gre- frath, Greven, Gruenstadt, Hamburg, Hanau, Handorf, Hannover, Heidelberg, Heilbronn, Herongen, Idar- Oberstein, Ingolstadt, Kaiser- slautern, Landkreis, Leimen, Kalkar, Karl- sruhe, Kerpen, Kitzingen, Koblenz, Leipzig, Ludwigsburg, Mainz, Mannheim, Mayen, Moenchen- Gladbach, Muenster, Munich, Nellingen, Neubruecke, Nuernberg, Noervenich,34,20093.70 Nuernberg, Ober Ramstadt, Oberammergau, Osterholz- Scharmbeck, Pfullendorf, Pirma- sens, Rheinberg, Schwabach, Schwetzingen, Seckenheim, Sembach, Stuttgart, Twist- eden, Vilseck, Wahn, Wertheim, Wiesbaden, Worms, Wuerzburg, Zirndorf, and Zweibrueken GhanaAccra36,00098.63 GreeceAthens34,80095.34 GreeceElefsis34,80095.34 GreeceEllinikon34,80095.34 GreeceMt. Parnis34,80095.34 GreeceMt. Pateras34,80095.34 GreeceNea Makri34,80095.34 GreecePiraeus34,80095.34 March 7, 2022 818 Bulletin No. 2022–10 CountryLocationLimitation on Housing Expenses (full year) Limitation on Housing Expenses (daily) GreeceTanagra34,80095.34 GuatemalaGuatemala City42,000115.07 GuineaConakry51,300140.55 GuyanaGeorgetown35,00095.89 Holy See, TheHoly See, The47,300129.59 IndiaMumbai67,920186.08 IndiaNew Delhi56,124153.76 IndonesiaJakarta37,776103.50 IrelandDublin41,100112.60 IsraelBeer Sheva63,800174.79 IsraelJerusalem49,000134.25 IsraelTel Aviv50,800139.18 IsraelWest Bank49,000134.25 ItalyAviano37,700103.29 ItalyGenoa41,800114.52 ItalyLa Spezia40,400110.68 ItalyMilan70,600193.42 ItalyNaples48,500132.88 ItalyParma35,90098.36 ItalyRome47,300129.59 ItalyTurin35,40096.99 ItalyVicenza39,500108.22 JamaicaKingston41,200112.88 JapanAtsugi40,100109.86 JapanCamp Zama40,100109.86 JapanChiba-Ken40,100109.86 JapanFussa40,100109.86 JapanGifu74,300203.56 JapanHaneda40,100109.86 JapanKanagawa-Ken40,100109.86 JapanKomaki74,300203.56 JapanMachidi-Shi40,100109.86 JapanNagoya74,300203.56 JapanOkinawa Prefecture56,700155.34 JapanOsaka-Kobe90,664248.39 JapanSagamihara40,100109.86 JapanSaitama-Ken40,100109.86 JapanTachikawa40,100109.86 JapanTokyo92,400253.15 JapanTokyo-to40,100109.86 JapanYokohama49,300135.07 JapanYokosuka53,100145.48 JapanYokota37,700103.29 Bulletin No. 2022–10 819 March 7, 2022 CountryLocationLimitation on Housing Expenses (full year) Limitation on Housing Expenses (daily) KazakhstanAlmaty48,000131.51 KoreaCamp Colbern54,200148.49 KoreaCamp Market54,500149.32 KoreaCamp Mercer54,200148.49 KoreaK-1654,500149.32 KoreaKimpo Airfield54,500149.32 KoreaOsan AB36,30099.45 KoreaPyongtaek39,000106.85 KoreaSeoul54,500149.32 KoreaSuwon54,500149.32 KoreaTongduchon35,20096.44 KuwaitKuwait City64,400176.44 KuwaitAll cities other than Kuwait City57,700158.08 LuxembourgLuxembourg38,700106.03 MacedoniaSkopje35,40096.99 MalaysiaKuala Lumpur46,200126.58 MalaysiaAll cities other than Kuala Lumpur33,70092.33 MaltaMalta55,100150.96 MexicoMerida37,900103.84 MexicoMexico City47,900131.23 MexicoAll cities other than Ciudad Juarez, Cuer- navaca, Guadalajara, Hermosillo, Matamoros, Mazatlan, Merida, Metapa, Mexico City, Monterrey, Nogales, Nuevo Laredo, Reynosa, Tapachula, Tijuana, Tuxtla Gutierrez, and Veracruz39,400107.95 MozambiqueMaputo39,500108.22 NetherlandsAmsterdam52,900144.93 NetherlandsAruba39,100107.12 NetherlandsBrunssum35,40096.99 NetherlandsEygelshoven35,40096.99 NetherlandsHague, The56,400154.52 NetherlandsHeerlen35,40096.99 NetherlandsHoensbroek35,40096.99 NetherlandsHulsberg35,40096.99 NetherlandsKerkrade35,40096.99 NetherlandsLandgraaf35,40096.99 NetherlandsMaastricht35,40096.99 NetherlandsPapendrecht34,00093.15 NetherlandsRotterdam34,00093.15 NetherlandsSchaesburg35,40096.99 NetherlandsSchinnen35,40096.99 NetherlandsSchiphol52,900144.93 March 7, 2022 820 Bulletin No. 2022–10 CountryLocationLimitation on Housing Expenses (full year) Limitation on Housing Expenses (daily) NetherlandsYpenburg56,400154.52 Netherlands AntillesCuracao45,800125.48 New ZealandWellington33,80092.60 NigeriaAbuja36,00098.63 OmanMuscat41,300113.15 PanamaPanama City39,500108.22 PeruLima39,100107.12 PhilippinesCavite39,500108.22 PhilippinesManila39,500108.22 PolandWarsaw40,900112.05 PortugalAlverca43,200118.36 PortugalLisbon43,200118.36 QatarDoha45,888125.72 RomaniaBucharest41,200112.88 RussiaMoscow108,000295.89 RussiaSaint Petersburg60,000164.38 RussiaSakhalin Island77,500212.33 RussiaVladivostok77,500212.33 RussiaYekaterinburg47,400129.86 SingaporeSingapore82,300225.48 SloveniaLjubljana49,600135.89 South AfricaPretoria39,300107.67 SpainBarcelona40,600111.23 SpainMadrid57,600157.81 SpainRota35,20096.44 SwitzerlandBern70,500193.15 SwitzerlandGeneva100,400275.07 TaiwanTaipei46,188126.54 TanzaniaDar Es Salaam44,000120.55 ThailandBangkok59,000161.64 Trinidad and TobagoPort of Spain54,500149.32 UkraineKiev72,000197.26 United Arab EmiratesAbu Dhabi49,687136.13 United Arab EmiratesDubai57,174156.64 United KingdomBasingstoke41,099112.60 United KingdomBath41,000112.33 United KingdomBracknell62,100170.14 United KingdomBrookwood36,800100.82 United KingdomCambridge35,70097.81 United KingdomCaversham73,800202.19 United KingdomCheltenham43,500119.18 United KingdomCroughton36,600100.27 United KingdomFairford34,60094.79 Bulletin No. 2022–10 821 March 7, 2022 CountryLocationLimitation on Housing Expenses (full year) Limitation on Housing Expenses (daily) United KingdomFarnborough54,700149.86 United KingdomFelixstowe34,40094.25 United KingdomGibraltar44,616122.24 United KingdomHarrogate38,600105.75 United KingdomHigh Wycombe62,100170.14 United KingdomHuntingdon36,800100.82 United KingdomKemble34,60094.79 United KingdomLakenheath46,700127.95 United KingdomLondon69,500190.41 United KingdomLoudwater56,700155.34 United KingdomMenwith Hill38,600105.75 United KingdomMildenhall46,700127.95 United KingdomOxfordshire36,10098.90 United KingdomPlymouth36,10098.90 United KingdomPortsmouth36,10098.90 United KingdomReading62,100170.14 United KingdomRochester37,100101.64 United KingdomSamlesbury36,800100.82 United KingdomSouthampton44,200121.10 United KingdomSurrey48,402132.61 United KingdomWaterbeach36,900101.10 United KingdomWiltshire34,80095.34 United KingdomAll cities other than Basingstoke, Bath, Belfast, Birmingham, Bracknell, Bristol, Brookwood, Brough, Cambridge, Caver- sham, Chelmsford, Cheltenham, Chick- sands, Croughton, Dunstable, Edinburgh, Edzell, Fairford, Farnborough, Felixstowe, Ft. Halstead, Gibraltar, Glenrothes, Green- ham Common, Harrogate, High Wycombe, Huntingdon, Hythe, Kemble, Lakenheath, Liverpool, London, Loudwater, Menwith Hill, Mildenhall, Nottingham, Oxfordshire, Plymouth, Portsmouth, Reading, Rochester, Samlesbury, Southampton, Surrey, Water- beach, Welford, West Byfleet, and Wilt- shire 37,900103.84 VenezuelaCaracas57,000156.16 VietnamHanoi46,800128.22 VietnamHo Chi Minh City42,000115.07 March 7, 2022 822 Bulletin No. 2022–10 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 limita- tion 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 loca- tion 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 Instruc- tions to Form 2555, Foreign Earned In- come, for 2021). The Treasury Department and the IRS anticipate that future annual notices pro- viding adjustments to housing expense limitations will make a similar option available to qualified individuals that incur housing expenses in the immedi- ately preceding year. For example, when adjusted housing expense limitations for 2023 are issued, it is expected that tax- payers 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). Bulletin No. 2022–10 i March 7, 2022 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 pub- lished 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 ap- plied 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 be- ing made clear because the language has caused, or may cause, some confusion. It is not used where a position in a prior rul- ing is being changed. Distinguished describes a situation where a ruling mentions a previously pub- lished 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 pub- lished ruling that is not considered deter- minative 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 sub- stance 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 previous- ly 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 rul- ings 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 cas- es in litigation, or the outcome of a Ser- vice 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. March 7, 2022 ii Bulletin No. 2022–10 Numerical Finding List 1 Bulletin 2022–10 Announcements: 2022-3, 2022-8 I.R.B. 788 2022-4, 2022-9 I.R.B. 789 AOD: 2022-1, 2022-06 I.R.B. 466 Notices: 2022-1, 2022-02 I.R.B. 304 2022-2, 2022-02 I.R.B. 304 2022-3, 2022-02 I.R.B. 308 2022-4, 2022-02 I.R.B. 309 2022-5, 2022-05 I.R.B. 457 2022-6, 2022-05 I.R.B. 460 2022-7, 2022-06 I.R.B. 469 2022-8, 2022-07 I.R.B. 491 2022-9, 2022-10 I.R.B. 811 2022-10, 2022-10 I.R.B. 815 Proposed Regulations: REG-118250-20, 2022-07 I.R.B. 753 Revenue Procedures: 2022-1, 2022-01 I.R.B. 1 2022-2, 2022-01 I.R.B. 120 2022-3, 2022-01 I.R.B. 144 2022-4, 2022-01 I.R.B. 161 2022-5, 2022-01 I.R.B. 256 2022-7, 2022-01 I.R.B. 297 2022-9, 2022-02 I.R.B. 310 2022-11, 2022-03 I.R.B. 449 2022-8, 2022-04 I.R.B. 451 2022-10, 2022-06 I.R.B. 473 2022-13, 2022-06 I.R.B. 477 2022-12, 2022-07 I.R.B. 494 2022-14, 2022-07 I.R.B. 502 Revenue Rulings: 2022-1, 2022-02 I.R.B. 301 2022-2, 2022-04 I.R.B. 451 2022-3, 2022-06 I.R.B. 467 2022-4, 2022-10 I.R.B. 790 2022-5, 2022-10 I.R.B. 792 Treasury Decisions: 9959, 2022-03 I.R.B. 328 9961, 2022-03 I.R.B. 430 9960, 2022-07 I.R.B. 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. Bulletin No. 2022–10 iii March 7, 2022 Finding List of Current Actions on Previously Published Items 1 Bulletin 2022–10 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. Internal Revenue Service Washington, DC 20224 Official Business Penalty for Private Use, $300 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.
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