This revenue procedure provides the 2023 inflation adjusted amounts for Health Savings Accounts (HSAs) as determined under § 223 of the Internal Revenue Code and the maximum amount that may be made newly available for excepted benefit health reimbursement arrangements (HRAs) provided under § 54.9831-1(c)(3)(viii) of the Pension Excise Tax Regulations.

26 CFR 601.602: Tax forms and instructions.

(Also Part I, §§ 1, 223; Part III § 54.9831-1)

This notice sets forth proposed changes to the qualified intermediary (QI) withholding agreement (QI agreement) described in §1.1441-1(e)(5) and (6) that will permit a QI to assume withholding and reporting responsibilities for purposes of sections 1446(a) and (f). Generally, the notice sets forth proposed changes to the QI agreement that apply to a QI effecting a transfer of an interest in a publicly traded partnership (PTP) or receiving a distribution made by a PTP on behalf of an account holder of the QI. The Treasury Department and the IRS anticipate that the proposed changes to the QI agreement described in this notice, subject to any modifications included in a revenue procedure containing the final QI agreement, will apply to the QI agreements that are in effect on or after January 1, 2023, to correspond with both the applicability date of final regulations relating to withholding under sections 1446(a) and (f) and the expiration of the existing QI agreement.

This notice sets forth the updated mortality improvement rates and static mortality tables that are used for purposes of determining minimum funding requirements under § 430(h)(3) for 2023 and minimum present value under § 417(e)(3) for distributions with annuity starting dates that occur during stability periods beginning in the 2023 calendar year.

This document contains proposed regulations prescribing mortality tables to be used by most defined benefit pension plans. The tables specify the probability of survival year-by-year for an individual based on age, gender, and other factors. This information is used (together with other actuarial assumptions) to calculate the present value of a stream of expected future benefit payments for purposes of determining the minimum funding requirements for a defined benefit plan. These mortality tables are also relevant in determining the minimum required amount of a lump-sum distribution from such a plan. These regulations affect participants in, beneficiaries of, employers maintaining, and administrators of certain retirement plans.

Section 11061 of TCJA amended § 2010(c)(3) to provide that, for estates of decedents dying and gifts made beginning in 2018 and through 2025, the basic exclusion amount (BEA) is $10 million as adjusted for inflation. On January 1, 2026, the BEA will revert to $5 million as adjusted for inflation. Treas. Reg. § 20.2010-1(c) provides a special estate tax rule applicable in cases where a decrease in the BEA occurring after a gift was made causes the credit that was allowable against the gift tax to exceed that allowable against the estate tax. In that case, the estate tax formula will result in the imposition of an estate tax on the gifts that were sheltered from gift tax when made. The special rule eliminates the problem by allowing a credit against the estate tax based on the larger of the credit allowable in computing the estate tax and the total of the credits allowable in computing the gift tax payable on the decedent’s post-1976 gifts. This NPRM proposes to limit the application of the special rule by excluding from its coverage certain gifts that are includible or treated as inclludible in the gross estate for estate tax purposes.

Notice 2022-21 invites the public to submit recommendations for items to be included on the 2022-2023 Priority Guidance Plan.