The Internal Revenue Service (IRS) issued Revenue Ruling 2022-10, which provides various prescribed rates for federal income tax purposes, including applicable federal interest rates, adjusted applicable federal interest rates, and adjusted long-term and tax-exempt rates for June 2022.
As provided in the ruling, Table 4 contains LIHTC Appropriate Percentages Under Section 42(b)(1) for June 2022:
- Appropriate percentage for the 70% present value low-income housing credit: 7.70%
- Appropriate percentage for the 30% present value low-income housing credit: 3.30%