Internal Revenue Bulletin 2023-37 (PDF rendition): IRS Revenue Rulings

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Bulletin No. 2023–37
September 11, 2023
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. 2023-17, page 798.
Interest rates: underpayments and overpayments. The rates for
interest determined under Section 6621 of the code for the
calendar quarter beginning October 1, 2023, will be 8 percent
for overpayments (7 percent in the case of a corporation), 8
percent for underpayments, and 10 percent for large corporate
underpayments. The rate of interest paid on the portion of a cor-
porate overpayment exceeding $10,000 will be 5.5 percent.
EMPLOYEE PLANS
Notice 2023-62, page 817.
This notice provides guidance with respect to section 603
of the SECURE 2.0 Act of 2022 and announces a 2-year
administrative transition period with respect to the require-
ment under section 603 that catch-up contributions made on
behalf of certain eligible participants be designated as Roth
contributions. The notice also describes certain further guid-
ance that the Treasury Department and the IRS anticipate
issuing with respect to section 603 and requests comments.
EXEMPT ORGANIZATIONS
Announcement 2023-25, page 821.
Revocation of IRC 501(c) (3) Organizations for failure to meet
the code section requirements Contributions made to the
Organizations by individual donors are no longer deductible
under IRC 170 (b)(1)(A)
Announcement 2023-26, page 822.
Revocation of IRC 501(c) (3) Organizations for failure to meet
the code section requirements Contributions made to the
Organizations by individual donors are no longer deductible
under IRC 170 (b)(1)(A).
INCOME TAX
Announcement 2023-28, page 823.
This document contains corrections to Rev. Proc. 2023-27,
as published on Monday, August 28, 2023 (I.R.B. 2023-35,
655) In particular, this announcement corrects four adminis-
trative items.
Rev. Proc. 2023-29, page 819.
This revenue procedure provides the applicable percentage
table in § 36B(b)(3)(A) of the Internal Revenue Code for tax-
able years beginning in calendar year 2024. This table is
used to calculate an individual’s premium tax credit under
§ 36B. This revenue procedure also provides the indexing
adjustment for the required contribution percentage in §
36B(c)(2)(C)(i)(II) for plan years beginning in calendar year
2024. This percentage is used to determine whether an indi-
vidual is eligible for affordable employer-sponsored minimum
essential coverage under § 36B.
Rev. Rul. 2023-16, page 796.
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 September 2023.
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
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 offi-
cial 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.
September 11, 2023 Bulletin No. 2023–37

Part I
Section 1274.—
Determination of Issue
Price in the Case of Certain
Debt Instruments Issued for
Property
Rev. Rul. 2023-16
This revenue ruling provides various
prescribed rates for federal income tax
purposes for September 2023 (the current
month). Table 1 contains the short-term,
mid-term, and long-term applicable fed-
eral 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-in-
come 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 percent-
age 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 deter-
mining 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. 2023-16 TABLE 1
Applicable Federal Rates (AFR) for September 2023
Period for Compounding
AnnualSemiannualQuarterlyMonthly
Short-term
AFR5.12%5.06%5.03%5.01%
110% AFR5.65%5.57%5.53%5.51%
120% AFR6.16%6.07%6.02%5.99%
130% AFR6.69%6.58%6.53%6.49%
Mid-term
AFR4.19%4.15%4.13%4.11%
110% AFR 4.62%4.57%4.54%4.53%
120% AFR5.04%4.98%4.95%4.93%
130% AFR5.47%5.40%5.36%5.34%
150% AFR6.33%6.23%6.18%6.15%
175% AFR7.39%7.26%7.20%7.15%
Long-term
AFR4.19%4.15%4.13%4.11%
110% AFR4.62%4.57%4.54%4.53%
120% AFR5.04%4.98%4.95%4.93%
130% AFR5.47%5.40%5.36%5.34%
REV. RUL. 2023-16 TABLE 2
Adjusted AFR for September 2023
Period for Compounding
AnnualSemiannualQuarterlyMonthly
Short-term adjusted AFR3.88%3.84%3.82%3.81%
Mid-term adjusted AFR3.17%3.15%3.14%3.13%
Long-term adjusted AFR3.17%3.15%3.14%3.13%
September 11, 2023 796 Bulletin No. 2023–37

REV. RUL. 2023-16 TABLE 3
Rates Under Section 382 for September 2023
Adjusted federal long-term rate for the current month3.17%
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.)
3.17%
REV. RUL. 2023-16 TABLE 4
Appropriate Percentages Under Section 42(b)(1) for September 2023
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 credit7.97%
Appropriate percentage for the 30% present value low-income housing credit 3.42%
REV. RUL. 2023-16 TABLE 5
Rate Under Section 7520 for September 2023
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
5.00%
Section 42.—Low-Income
Housing Credit
The applicable federal short-term, mid-term,
and long-term rates are set forth for the month
of September 2023. See Rev. Rul. 2023-16, page
796.
Section 280G.—Golden
Parachute Payments
The applicable federal short-term, mid-term,
and long-term rates are set forth for the month of
September 2023. See Rev. Rul. 2023-16, page 796.
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 September 2023. See
Rev. Rul. 2023-16, page 796.
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
September 2023. See Rev. Rul. 2023-16, page 796.
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 September 2023. See Rev.
Rul. 2023-16, page 796.
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
September 2023. See Rev. Rul. 2023-16, page 796.
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
September 2023. See Rev. Rul. 2023-16, page 796.
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 September 2023. See Rev. Rul. 2023-16, page 796.
Section 7520.—Valuation
Tables
The applicable federal mid-term rates are set
forth for the month of September 2023. See Rev.
Rul. 2023-16, page 796.
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
September 2023. See Rev. Rul. 2023-16, page 796.

Bulletin No. 2023–37 797 September 11, 2023

September 11, 2023 798 Bulletin No. 2023–37
Section 6621.—
Determination of Rate of
Interest
26 CFR 301.6621-1: Interest rate.
Rev. Rul. 2023-17
Section 6621 of the Internal Revenue
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 cor-
poration), 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
purposes of interest payable under sec-
tion 6601 on any large corporate under-
payment, the underpayment rate under
section 6621(a)(2) is determined by sub-
stituting “5 percentage points” for “3 per-
centage points.” See section 6621(c) and
section 301.6621-3 of the Regulations
on Procedure and Administration for the
definition of a large corporate underpay-
ment and for the rules for determining the
applicable date. Section 6621(c) and sec-
tion 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 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,
announced that in determining the quar-
terly interest rates to be used for over-
payments 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 deter-
mined in accordance with section
1274(d) during July 2023 is the rate pub-
lished in Revenue Ruling 2023-13, 2023-
32 IRB 413, to take effect beginning
August 1, 2023. The federal short-term
rate, rounded to the nearest full percent,
based on daily compounding determined
during the month of July 2023 is 5 per-
cent. Accordingly, an overpayment rate
of 8 percent (7 percent in the case of a
corporation) and an underpayment rate
of 8 percent are established for the cal-
endar quarter beginning October 1, 2023.
The overpayment rate for the portion
of a corporate overpayment exceeding
$10,000 for the calendar quarter begin-
ning October 1, 2023, is 5.5 percent. The
underpayment rate for large corporate
underpayments for the calendar quarter
beginning October 1, 2023, is 10 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 8 percent rate also applies to estimated
tax underpayments for the fourth calen-
dar quarter beginning October 1, 2023.
In addition, pursuant to section 6603(d)
(4), the rate of interest on section 6603
deposits is 5 percent for the fourth calen-
dar quarter in 2023.
Interest factors for daily compound
interest for annual rates of 5.5 percent, 7
percent, 8 percent and 10 percent are pub-
lished in Tables 16, 19, 21 and 25 of Rev.
Proc. 95-17, 1995-1 C.B. 570, 573, 575,
and 579.
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 informa-
tion regarding this revenue ruling, contact
Mr. Conrad at (202) 317-6844 (not a toll-
free call).

Bulletin No. 2023–37 799 September 11, 2023
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

September 11, 2023 800 Bulletin No. 2023–37
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. 2023–37 801 September 11, 2023
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

September 11, 2023 802 Bulletin No. 2023–37
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. 2023–37 803 September 11, 2023
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%Table2,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–Dec. 31, 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
Jul. 1, 1991–Sep. 30, 19919%2357710%25579

September 11, 2023 804 Bulletin No. 2023–37
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. 2023–37 805 September 11, 2023
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
Jan. 1, 2009–Mar. 31, 20095%15569

September 11, 2023 806 Bulletin No. 2023–37
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
Apr. 1, 2020–Jun. 30, 20205%63617

Bulletin No. 2023–37 807 September 11, 2023
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
Jul. 1, 2022–Sep. 30, 20225%15569
Oct. 1, 2022–Dec. 31, 20226%17571
Jan. 1, 2023–Mar. 31, 20237%19573
Apr. 1, 2023–Jun. 30, 20237%19573
Jul. 1, 2023–Sep. 30, 2023 7%19573
Oct. 1, 2023–Dec. 31, 20238%21575

September 11, 2023 808 Bulletin No. 2023–37
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. 30, 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, 20044%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%195738%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. 2023–37 809 September 11, 2023
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

September 11, 2023 810 Bulletin No. 2023–37
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
Jul. 1, 2022–Sep. 30, 20224%135675%15569
Oct. 1, 2022–Dec. 31, 20225%155696%17571
Jan. 1, 2023–Mar. 31, 20236%175717%19573
Apr. 1, 2023–Jun. 30, 20236%175717%19573
Jul. 1, 2023–Sep. 30, 20236%175717%19573
Oct. 1, 2023–Dec. 31, 20237%195738%21575

Bulletin No. 2023–37 811 September 11, 2023
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–Jun. 30, 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

September 11, 2023 812 Bulletin No. 2023–37
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–Sep. 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–Sep. 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
Jul. 1, 2012–Sep. 30, 20125%63617

Bulletin No. 2023–37 813 September 11, 2023
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
Jul. 1, 2022–Sep. 30, 20227%19573
Oct. 1, 2022–Dec. 31, 20228%21575
Jan. 1, 2023–Mar. 31, 20239%23577
Apr. 1, 2023–Jun. 30, 20239%23577
Jul. 1, 2023–Sep. 30, 20239%23577
Oct. 1, 2023–Dec. 31, 202310%25579

September 11, 2023 814 Bulletin No. 2023–37
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–Sep. 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. 2023–37 815 September 11, 2023
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%*

September 11, 2023 816 Bulletin No. 2023–37
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
Jul. 1, 2022–Sep. 30, 20222.5%10564
Oct. 1, 2022–Dec. 31, 20223.5%12566
Jan. 1, 2023–Mar. 31, 20234.5%14568
Apr. 1, 2023–Jun. 30, 20234.5%14568
Jul. 1, 2023–Sep. 30, 2023 4.5%14568
Oct. 1, 2023–Dec. 31, 20235.5%16570
* 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. 2023–37 817 September 11, 2023
Part III
Guidance on Section 603
of the SECURE 2.0 Act
with Respect to Catch-Up
Contributions
Notice 2023-62
I. PURPOSE
This notice provides guidance with
respect to section 603 of Division T of
the Consolidated Appropriations Act,
2023, Pub. L. 117-328, 136 Stat. 4459
(2022), known as the SECURE 2.0 Act
of 2022 (SECURE 2.0 Act). Among other
changes, section 603 of the SECURE 2.0
Act requires that, in the case of certain eli-
gible participants, catch-up contributions
under section 414(v)(1) of the Internal
Revenue Code (Code) must be desig-
nated as Roth contributions pursuant to an
employee election.
This notice is not intended to provide
comprehensive guidance as to section
603 of the SECURE 2.0 Act, but rather is
intended to provide guidance on particular
issues to assist in the implementation of
that section. This notice also announces
a 2-year administrative transition period
with respect to the requirement under
section 603 of the SECURE 2.0 Act that
catch-up contributions made on behalf of
certain eligible participants be designated
as Roth contributions. The Department
of the Treasury (Treasury Department)
and the Internal Revenue Service (IRS)
have been made aware of taxpayer con-
cerns with being able to timely implement
section 603 of the SECURE 2.0 Act. The
administrative transition period described
in this notice is intended to facilitate an
orderly transition for compliance with that
requirement.
The Treasury Department and the
IRS continue to work on implementation
of section 603 of the SECURE 2.0 Act
and intend to issue further guidance, as
described in section V of this notice. The
Treasury Department and the IRS invite
comments on this notice and any other
aspect of section 603 of the SECURE 2.0
Act.
II. BACKGROUND
Section 414(v)(1) of the Code pro-
vides that an applicable employer plan (as
defined in section 414(v)(6)(A)) will not
be treated as failing to meet any require-
ment of the Code solely because the plan
permits an eligible participant (as defined
in section 414(v)(5)) to make additional
elective deferrals under section 414(v)
(catch-up contributions) in any plan year.
Section 414(v)(3)(A)(i) further provides
that a catch-up contribution is not, with
respect to the year in which the contri-
bution is made, subject to any otherwise
applicable limitation contained in sec-
tion 401(a)(30) (that is, the limitation on
the exclusion of elective deferrals from
gross income under section 402(g)(1)(A)),
403(b) (including the requirement under
section 403(b)(1)(E) that a contract pur-
chased under a salary reduction agreement
satisfy the requirements of section 401(a)
(30)), or 457(b)(2) (determined without
regard to section 457(b)(3)), among other
provisions.
Section 603(a) of the SECURE 2.0
Act amends section 414(v) of the Code
to add section 414(v)(7). Section 414(v)
(7)(A) generally provides that, in the case
of an eligible participant whose wages (as
defined in section 3121(a)) for the pre-
ceding calendar year from the employer
sponsoring the plan exceed $145,000 (as
adjusted under section 414(v)(7)(E)), sec-
tion 414(v)(1) applies only if any catch-up
contributions are designated Roth contri-
butions (as defined in section 402A(c)(1))
made pursuant to an employee election.
Section 414(v)(7)(B) provides that, in
the case of an applicable employer plan
with respect to which section 414(v)(7)
(A) applies to any participant for a plan
year, section 414(v)(1) does not apply to
the plan unless the plan provides that any
eligible participant may make catch-up
contributions as designated Roth contri-
butions. Thus, if a plan provides that an
eligible participant who is subject to the
requirements of section 414(v)(7)(A) may
make catch-up contributions as designated
Roth contributions, then all eligible par-
ticipants in the plan must be permitted to
make catch-up contributions as designated
Roth contributions.
Section 414(v)(7)(C) provides that
section 414(v)(7)(A) does not apply in
the case of an applicable employer plan
described in section 414(v)(6)(A)(iv) (a
SEP arrangement under section 408(k) or a
SIMPLE IRA plan under section 408(p)).
Thus, section 414(v)(7)(A) applies in the
case of an applicable employer plan that
is a qualified plan under section 401(a)
(including a section 401(k) plan), a sec-
tion 403(b) plan, or a section 457(b) plan
maintained by an employer described in
section 457(e)(1)(A) (an eligible govern-
mental plan).
Section 414(v)(7)(D) provides that the
Secretary (the Secretary of the Treasury or
the Secretary’s delegate) may provide by
regulations that an eligible participant may
elect to change the participant’s election
to make catch-up contributions if the par-
ticipant’s compensation is determined to
exceed the limitation under section 414(v)
(7)(A) after the election is made.
Section 603(b) of the SECURE 2.0 Act
includes conforming amendments with
respect to section 603(a). Section 603(b)
(1) of the SECURE 2.0 Act strikes sec-
tion 402(g)(1)(C) of the Code. Prior to
that amendment, section 402(g)(1)(C)
provided that an eligible participant’s
gross income does not include elective
deferrals in excess of the applicable dollar
amount under section 402(g)(1)(B)
1
to the
extent that the amount of those elective
deferrals does not exceed the applicable
dollar amount under section 414(v)(2)(B)
(i)
2
for the taxable year (without regard
to the treatment of the elective deferrals
by an applicable employer plan under
section 414(v)).
1
The applicable dollar amount under section 402(g)(1)(B) is $22,500 for 2023.
2
The applicable dollar amount under section 414(v)(2)(B)(i) is $7,500 for 2023.

September 11, 2023 818 Bulletin No. 2023–37
Section 603(b)(2) of the SECURE 2.0
Act amends section 457(e)(18)(A)(ii) of
the Code to replace “the applicable dollar
amount for the taxable year determined
under section 414(v)(2)(B)(i), or” with
“the lesser of any designated Roth con-
tributions made by the participant to the
plan or the applicable dollar amount for
the taxable year determined under sec-
tion 414(v)(2)(B)(i), or”.
Section 603(c) of the SECURE 2.0 Act
provides that the amendments made by
section 603 apply to taxable years begin-
ning after December 31, 2023.
III. GUIDANCE ON SECTION 603
OF THE SECURE 2.0 ACT
A. Catch-Up Contributions for Taxable
Years Beginning After December 31,
2023
Pursuant to section 414(v)(1), an appli-
cable employer plan is not treated as fail-
ing to meet any requirement of the Code
solely because the plan permits an eligible
participant to make catch-up contributions
under section 414(v) in any plan year.
Accordingly, for taxable years beginning
after December 31, 2023, an applicable
employer plan may permit an eligible par-
ticipant to make elective deferrals under
the plan that exceed the applicable dol-
lar amount under section 402(g)(1)(B)
(or deferrals under the plan that exceed
the applicable dollar amount under sec-
tion 457(e)(15)) if those contributions in
excess of the applicable dollar amount sat-
isfy the requirements under section 414(v)
for catch-up contributions. The elimina-
tion of section 402(g)(1)(C) of the Code
under section 603(b)(1) of the SECURE
2.0 Act does not change this result for tax-
able years beginning after December 31,
2023.
3
If an eligible participant is subject to
the requirements of section 414(v)(7)
(A), then any catch-up contributions that
are made to the plan on behalf of the
participant must be designated as Roth
contributions. However, if an eligible par-
ticipant is not subject to the requirements
of section 414(v)(7)(A), then any catch-up
contributions that are made to the plan on
behalf of the participant are not required
to be designated as Roth contributions.
In that case, any catch-up contributions
under section 414(v) that are made to the
plan on behalf of the participant that are
not designated as Roth contributions are
not includible in the participant’s gross
income under section 402(g)(1)(A) (and
do not exceed the limitation in section
457(b)(2)) because, in accordance with
section 414(v)(3)(A)(i), the limitations on
elective deferrals under sections 401(a)
(30) and 403(b) (and the limitation on
deferrals under section 457(b)(2)) do not
apply to those catch-up contributions.
B. Elective Deferrals Made to Two or
More Plans
If an individual makes elective defer-
rals to two or more plans during a tax-
able year (including plans maintained by
unrelated employers), then, under section
402(g)(1)(A), those elective deferrals are
aggregated for purposes of determining
whether the amount of the individual’s
elective deferrals exceeds the applicable
dollar amount under section 402(g)(1)(B).
Similarly, an eligible participant’s elec-
tive deferrals made to two or more plans
during a taxable year are also aggregated
for purposes of applying the limitation
on the amount of catch-up contributions
under section 414(v)(2). The elimination
of section 402(g)(1)(C) of the Code under
section 603(b)(1) of the SECURE 2.0 Act
does not change this result for taxable
years beginning after December 31, 2023.
4
IV. ADMINISTRATIVE
TRANSITION PERIOD
Under section 603(c) of the SECURE
2.0 Act, the provisions of section 603
apply to taxable years beginning after
December 31, 2023. However, the first two
taxable years beginning after December
31, 2023, will be regarded as an adminis-
trative transition period with respect to the
requirement under section 414(v)(7)(A)
of the Code that catch-up contributions
made on behalf of certain eligible partici-
pants be designated as Roth contributions.
Specifically, until taxable years begin-
ning after December 31, 2025, (1) those
catch-up contributions will be treated
as satisfying the requirements of section
414(v)(7)(A), even if the contributions are
not designated as Roth contributions, and
(2) a plan that does not provide for des-
ignated Roth contributions will be treated
as satisfying the requirements of section
414(v)(7)(B).
V. GUIDANCE UNDER
CONSIDERATION REGARDING
SECTION 603 OF THE SECURE 2.0
ACT
As noted in section I of this notice, the
Treasury Department and the IRS intend
to issue further guidance to assist taxpay-
ers with the implementation of section 603
of the SECURE 2.0 Act. The guidance
that the Treasury Department and the IRS
anticipate issuing with respect to section
603 of the SECURE 2.0 Act, after taking
into account any comments received, is
expected to include:
1. Guidance clarifying that sec-
tion 414(v)(7)(A) of the Code would
not apply in the case of an eligible
participant who does not have wages
as defined in section 3121(a) (that is,
wages for purposes of the Federal
Insurance Contributions Act (FICA))
for the preceding calendar year from
the employer sponsoring the plan.
For example, under that guidance, if
an eligible participant did not have
any wages for purposes of FICA for
the preceding calendar year because
the individual was a partner (or other
self-employed individual) receiving
self-employment income or because
the individual was a State or local
government employee whose services
were excluded from the definition of
employment under section 3121(b)
(7), then the eligible participant
would not be subject to the require-
ments of section 414(v)(7)(A).
3
Proposed regulations, which were issued before the enactment in 2002 of section 402(g)(1)(C), permitted catch-up contributions in excess of the applicable dollar amount under section
402(g)(1)(B) or 457(e)(15) for purposes of section 414(v). See proposed § 1.414(v)-1(a)(1) and (b)(1)(i), 66 FR 53555 (the 2001 NPRM).
4
Proposed § 1.414(v)-1(g) of the 2001 NPRM also provided for aggregation of an eligible participant’s elective deferrals made to two or more plans for purposes of section 414(v)(2).

Bulletin No. 2023–37 819 September 11, 2023
2. Guidance providing that, in the case
of an eligible participant who is sub-
ject to section 414(v)(7)(A), the plan
administrator and the employer would
be permitted to treat an election by
the participant to make catch-up con-
tributions on a pre-tax basis as an
election by the participant to make
catch-up contributions that are desig-
nated Roth contributions.
5
3. Guidance addressing an applicable
employer plan that is maintained by
more than one employer (including
a multiemployer plan). The guid-
ance would provide that an eligible
participant’s wages for the preceding
calendar year from one participating
employer would not be aggregated
with the wages from another par-
ticipating employer for purposes of
determining whether the participant’s
wages for that year exceed $145,000
(as adjusted). For example, under
that guidance, if an eligible partic-
ipant’s wages for a calendar year
were: (1) $100,000 from one partic-
ipating employer; and (2) $125,0000
from another participating employer,
then the participant’s catch-up con-
tributions under the plan for the next
year would not be subject to sec-
tion 414(v)(7)(A) (even if the par-
ticipant’s aggregate wages from the
participating employers for the prior
calendar year exceed $145,000, as
adjusted). The guidance also would
provide that, even if an eligible par-
ticipant is subject to section 414(v)(7)
(A) because the participant’s wages
from one participating employer in
the plan for the preceding calendar
year exceed $145,000 (as adjusted),
elective deferrals made on behalf
of the participant by another partic-
ipating employer that are catch-up
contributions would not be required
to be designated as Roth contribu-
tions unless the participant’s wages
for the preceding calendar year from
that other employer also exceed that
amount.
VI. REQUEST FOR COMMENTS
The Treasury Department and the IRS
invite comments and suggestions regard-
ing the matters discussed in this notice
and any other aspect of section 603 of
the SECURE 2.0 Act. In particular, the
Treasury Department and the IRS request
comments on section V of this notice.
In addition, comments are requested
with respect to whether the intended guid-
ance should address a plan that permits
eligible participants to make catch-up
contributions under section 414(v) but
does not include a qualified Roth contri-
bution program. In particular, should the
guidance provide that such a plan will not
fail to satisfy section 414(v)(4) (which
provides that all eligible participants must
be allowed to make the same election with
respect to catch-up contributions) or sec-
tion 414(v)(7)(B), merely because the plan
provides that eligible participants who are
not subject to section 414(v)(7)(A) are
permitted to make catch-up contributions
while eligible participants who are sub-
ject to section 414(v)(7)(A) are prohibited
from making catch-up contributions.
6
Comments should be submitted in
writing on or before October 24, 2023,
and should include a reference to Notice
2023-62. Comments may be submitted
electronically via the Federal eRulemak-
ing Portal at www.regulations.gov (type
“IRS-2023-0039” in the search field
on the Regulations.gov home page to
find this notice and submit comments).
Alternatively, comments may be submit-
ted by mail to: Internal Revenue Service,
Attn: CC:PA:LPD:PR (Notice 2023-62),
Room 5203, P.O. Box 7604, Ben Franklin
Station, Washington, D.C. 20044.
The Treasury Department and the IRS
will publish for public availability any
comment submitted electronically or on
paper to its public docket.
VII. DRAFTING INFORMATION
The principal author of this notice
is the Office of Associate Chief
Counsel (Employee Benefits, Exempt
Organizations, and Employment Taxes).
However, other personnel from the
Treasury Department and the IRS partic-
ipated in the development of this guid-
ance. For further information regarding
this notice, contact Kara M. Soderstrom at
(202) 317-6799 (not a toll-free number).
26 CFR 601.105:

Examination of returns and claims
for refund, credit, or abatement; determination of
correct tax liability.
(Also Part 1, §§ 36B, 1.36B-2, 1.36B-3.)
Rev. Proc. 2023-29
SECTION 1. PURPOSE
This revenue procedure provides the
applicable percentage table (Applicable
Percentage Table) in § 36B(b)(3)(A) of the
Internal Revenue Code (Code) for taxable
years beginning in calendar year 2024.
1

This table is used to calculate an indi-
vidual’s premium tax credit under § 36B.
This revenue procedure also provides
the indexing adjustment for the required
contribution percentage (Required
Contribution Percentage) in § 36B(c)(2)
(C)(i)(II) for plan years beginning in cal-
endar year 2024. This percentage is used
to determine whether an individual is eli-
gible for affordable employer-sponsored
minimum essential coverage under § 36B.
5
Under section 402A(c)(1)(B), an employee may designate elective deferrals as Roth contributions at such time and in such manner as the Secretary may prescribe. Sections 1.401(k)-1(f)
(1)(i) and 1.403(b)-3(c)(1) provide that a designation of an elective contribution as a Roth contribution must be made at the time of the cash or deferred election, and a similar rule applies
to an eligible governmental plan.
6
Under section 402A(a), an applicable retirement plan may, but is not required to, include a qualified Roth contribution program. However, in the case of an eligible participant who is
subject to section 414(v)(7)(A), the catch-up contribution provisions of section 414(v)(1) apply only if any catch-up contributions are designated as Roth contributions. Accordingly, if an
applicable employer plan does not include a qualified Roth contribution program, then an eligible participant who is subject to section 414(v)(7)(A) would be prohibited from making catch‑up
contributions under the plan.
1
Section 9661 of the American Rescue Plan Act of 2021, Public Law 117-2, 135 Stat. 4, 182 (2021) (ARPA), added § 36B(b)(3)(A)(iii) to the Code to provide an Applicable Percentage Table
that applies for taxable years beginning in calendar years 2021 and 2022. Section 12001(a) of the Inflation Reduction Act of 2022, Public Law 117-169, 136 Stat. 1818, 1905 (2022) (IRA)
extended to taxable years beginning in calendar years 2023-2025 the Applicable Percentage Table enacted by the ARPA. Section 36B(b)(3)(A)(iii) also suspends indexing of the Applicable
Percentage Table for taxable years 2021-2025.

September 11, 2023 820 Bulletin No. 2023–37
SECTION 2. ADJUSTED ITEMS
.01 Applicable Percentage Table
for 2024. For taxable years beginning
in calendar year 2024, the Applicable
Percentage Table for purposes of § 36B(b)
(3)(A) and § 1.36B-3(g) of the Income
Tax Regulations is:
Household income percentage of Federal poverty line:Initial percentageFinal percentage
Less than 150%0.00%0.00%
At least 150% but less than 200%0.00%2.00%
At least 200% but less than 250%2.00%4.00%
At least 250% but less than 300%4.00%6.00%
At least 300% but less than 400%6.00%8.50%
At least 400% and higher8.50%8.50%
.02 Required Contribution Percentage
for 2024.
(1) Section 9661 of the ARPA and §
12001(a) of the IRA did not amend the
rules under § 36B(c)(2)(C)(iv) relating
to the Required Contribution Percentage,
including the rules relating to the indexing
of the Required Contribution Percentage.
See § 36B(b)(3)(A)(iii)(I). The Required
Contribution Percentage for plan years
beginning in calendar year 2024 is indexed
based on the rates of premium growth rela-
tive to the rates of income growth in guid-
ance issued by the Department of Health
and Human Services (HHS).
2
In addi-
tion, the additional adjustment provided
in § 36B(b)(3)(A)(ii)(II) is not required
for plan years beginning in 2024 because
the Department of the Treasury and the
Internal Revenue Service have determined
that the failsafe exception described in
§ 36B(b)(3)(A)(ii)(III) applies for plan
years beginning in calendar year 2024.
(2) For plan years beginning in calen-
dar year 2024, the Required Contribution
Percentage for purposes of § 36B(c)(2)(C)
(i)(II) and § 1.36B-2(c)(3)(v)(C) is 8.39%.
SECTION 3. EFFECT ON OTHER
DOCUMENTS
Rev. Proc. 2014-37, 2014-2 C.B. 363,
is supplemented.
SECTION 4. EFFECTIVE DATE
This revenue procedure is effective for
taxable years and plan years beginning in
calendar year 2024.
SECTION 5. DRAFTING
INFORMATION
The principal author of this reve-
nue procedure is Clara L. Raymond of
the Office of Associate Chief Counsel
(Income Tax and Accounting). For further
information regarding this revenue proce-
dure, contact Ms. Raymond at (202) 317-
4718 (not a toll-free number).
2
The rate of premium growth and the rate of income growth for calendar year 2024 are calculated using the NHEA Projections, 2021-2030, available at: https://www.cms.gov/Research-
Statistics-Data-and-Systems/Statistics-Trends-and-Reports/NationalHealthExpendData/NationalHealthAccountsProjected, which reflect the most recent projections, and the methodology
used to calculate the same rates of growth in the Premium Adjustment Percentage guidance for the 2024 benefit year published by the Center for Medicare and Medicaid Services on December
12, 2022, available at: https://www.cms.gov/files/document/2024-papi-parameters-guidance-2022-12-12.pdf.

Bulletin No. 2023–37 821 September 11, 2023
Part IV
Deletions From Cumulative
List of Organizations,
Contributions to Which are
Deductible Under Section
170 of the Code
Announcement 2023-25
Table of Contents
The Internal Revenue Service has
revoked its determination that the organi-
zations listed below qualify as organiza-
tions described in sections 501(c)(3) and
170(c)(2) of the Internal Revenue Code of
1986.
Generally, the IRS will not disallow
deductions for contributions made to a
listed organization on or before the date
of announcement in the Internal Revenue
Bulletin that an organization no longer
qualifies. However, the IRS is not pre-
cluded from disallowing a deduction for
any contributions made after an organiza-
tion ceases to qualify under section 170(c)
(2) if the organization has not timely filed
a suit for declaratory judgment under sec-
tion 7428 and if the contributor (1) had
knowledge of the revocation of the ruling
or determination letter, (2) was aware that
such revocation was imminent, or (3) was
in part responsible for or was aware of the
activities or omissions of the organization
that brought about this revocation.
If on the other hand a suit for declar-
atory judgment has been timely filed,
contributions from individuals and orga-
nizations described in section 170(c)(2)
that are otherwise allowable will continue
to be deductible. Protection under sec-
tion 7428(c) would begin on September
11, 2023 and would end on the date the
court first determines the organization is
not described in section 170(c)(2) as more
particularly set for in section 7428(c)(1).
For individual contributors, the maximum
deduction protected is $1,000, with a hus-
band and wife treated as one contributor.
This benefit is not extended to any indi-
vidual, in whole or in part, for the acts or
omissions of the organization that were
the basis for revocation.
NAME OF ORGANIZATION
Effective
Date of
Revocation
LOCATION
UNITED WAY OF SAN DIEGO03/26/2019STATEN ISLAND, NY

September 11, 2023 822 Bulletin No. 2023–37
Deletions From Cumulative
List of Organizations,
Contributions to Which are
Deductible Under Section
170 of the Code
Announcement 2023-26
The Internal Revenue Service has
revoked its determination that the organi-
zations listed below qualify as organiza-
tions described in sections 501(c)(3) and
170(c)(2) of the Internal Revenue Code of
1986.
Generally, the IRS will not disallow
deductions for contributions made to a
listed organization on or before the date
of announcement in the Internal Revenue
Bulletin that an organization no longer
qualifies. However, the IRS is not pre-
cluded from disallowing a deduction for
any contributions made after an organiza-
tion ceases to qualify under section 170(c)
(2) if the organization has not timely filed
a suit for declaratory judgment under sec-
tion 7428 and if the contributor (1) had
knowledge of the revocation of the ruling
or determination letter, (2) was aware that
such revocation was imminent, or (3) was
in part responsible for or was aware of the
activities or omissions of the organization
that brought about this revocation.
If on the other hand a suit for declar-
atory judgment has been timely filed,
contributions from individuals and orga-
nizations described in section 170(c)(2)
that are otherwise allowable will continue
to be deductible. Protection under sec-
tion 7428(c) would begin on September
11, 2023 and would end on the date the
court first determines the organization is
not described in section 170(c)(2) as more
particularly set for in section 7428(c)(1).
For individual contributors, the maximum
deduction protected is $1,000, with a hus-
band and wife treated as one contributor.
This benefit is not extended to any indi-
vidual, in whole or in part, for the acts or
omissions of the organization that were
the basis for revocation.
NAME OF ORGANIZATION
Effective
Date of
Revocation
LOCATION
HOME OF CHRISTN/A CHURCHSAN JOSE, CA
GREEN GATES ANIMAL SANCTUARY01/01/2020ROWE, NM
HAITIAN SALESIEN ALUMNI ASSOCIATES01/01/2018FLEETWOOD, NY
SUPERIOR TRAP AND GUN CLUB LTD01/01/2019SUPERIOR, WI
ARTS INSTITUTE INTERNATIONAL LLC01/01/2020HOUSTON, TX

Bulletin No. 2023–37 823 September 11, 2023
Correction to Revenue Procedure 2023-27, I.R.B. 2023-35
Announcement 2023-28
This document contains corrections to Revenue Procedure 2023-27, as published on Monday, August 28, 2023 (I.R.B. 2023-35, 655).
In particular, this announcement corrects the following administrative items.
Correction 1:
In Section 10.01, In general, Section 10.02, Documentation and attestation requirements, and Section 12.01, In general, a citation
incorrectly appears as §1.48-1(k). The correct citation is §1.48(e)-1(k).
Correction 2:
In Section 10.02(4), a citation incorrectly appears as §1.48(e)-1(e)(4). The correct citation is §1.48(e)-1(e)(6).
Correction 3:
In Section 12.02, Reduction in Increased Energy Percentage, a citation incorrectly appears as §48(e)(2)(B). The correct citation is
§48(e)(1)(B).
Correction 4:
In Section 13.02, Additional Selection Criteria, a citation incorrectly appears as §1.48(e)-1(m)(v). The correct citation is
§1.48(e)-1(m)(5).

Bulletin No. 2023–37 i September 11, 2023
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 rul-
ings 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.

September 11, 2023 ii Bulletin No. 2023–37
Numerical Finding List
1
Bulletin 2023–37
Announcements:
2023-18, 2023-30 I.R.B. 366
2023-19, 2023-30 I.R.B. 367
2023-20, 2023-30 I.R.B. 368
2023-17, 2023-31 I.R.B. 412
2023-21, 2023-31 I.R.B. 413
2023-22, 2023-32 I.R.B. 429
2023-23, 2023-34 I.R.B. 569
2023-24, 2023-35 I.R.B. 661
2023-25, 2023-37 I.R.B. 821
2023-26, 2023-37 I.R.B. 822
2023-28, 2023-37 I.R.B. 823
Notices:
2023-29, 2023-29 I.R.B. 1
2023-45, 2023-29 I.R.B. 317
2023-47, 2023-29 I.R.B. 318
2023-37, 2023-30 I.R.B. 359
2023-50, 2023-30 I.R.B. 361
2023-51, 2023-30 I.R.B. 362
2023-54, 2023-31 I.R.B. 382
2023-53, 2023-32 I.R.B. 424
2023-55, 2023-32 I.R.B. 427
2023-57, 2023-34 I.R.B. 560
2023-58, 2023-34 I.R.B. 563
2023-59, 2023-34 I.R.B. 564
2023-52, 2023-35 I.R.B. 650
2023-61, 2023-35 I.R.B. 651
2023-62, 2023-37 I.R.B. 817
Proposed Regulations:
REG-124123-22, 2023-30 I.R.B. 369
REG-124930-21, 2023-31 I.R.B. 431
REG-120730-21, 2023-33 I.R.B. 491
REG-134420-10, 2023-34 I.R.B. 571
REG-109348-22, 2023-35 I.R.B. 662
REG-120727-21, 2023-36 I.R.B. 670
Revenue Procedures:
2023-31, 2023-25 I.R.B. 386
2023-26, 2023-33 I.R.B. 486
2023-27, 2023-35 I.R.B. 655
2023-17, 2023-37 I.R.B. 819
Revenue Rulings:
2023-13, 2023-32 I.R.B. 413
2023-14, 2023-33 I.R.B. 484
2023-15, 2023-34 I.R.B. 559
2023-15, 2023-34 I.R.B. 559
2023-16, 2023-37 I.R.B. 796
2023-17, 2023-37 I.R.B. 798
Treasury Decisions:
9976, 2023-30 I.R.B. 354
9977, 2023-31 I.R.B. 375
9978, 2023-32 I.R.B. 415
9979, 2023-35 I.R.B. 602
1
A cumulative list of all revenue rulings, revenue procedures, Treasury decisions, etc., published in Internal Revenue Bulletins 2023–27 through 2023–52 is in Internal Revenue Bulletin
2023–52, dated December 27, 2023.

Bulletin No. 2023–37 iii September 11, 2023
Finding List of Current Actions on
Previously Published Items
1
Bulletin 2023–37
1
A cumulative list of all revenue rulings, revenue procedures, Treasury decisions, etc., published in Internal Revenue Bulletins 2023–27 through 2023–52 is in Internal Revenue Bulletin
2023–52, dated December 27, 2023.

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