Tax Update Blog

IRS Issues Applicable Federal Rates (AFR) for December 2022

November 15, 2022 | Blog
By Bailey Finney

The IRS has released (Rev. Rul. 2022-22) the Applicable Federal Rates under Sec. 1274(d) of the Internal Revenue Code for December 2022. These rates are used for various tax purposes, including minimum rates for loans.

There are rates for "short-term," "mid-term," and "long-term" instruments. Short-term covers demand loans and instruments extending up to three years. Mid-term covers loans and instruments of over three years and up to nine years. Long-term covers loans and instruments with maturities longer than nine years.

202212 AFR

The Section 382 long-term tax-exempt rate used to compute the loss carryforward limits for corporation ownership changes during December 2022 is 3.29%

Related: Eide Bailly Mergers & Acquisition services.


Historical AFRs are available here

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