These proposed regulations propose rules on the proper use of present-value principles in determining the amount deductible under section 2053 of the Internal Revenue Code (Code). In addition, the proposed regulations propose rules under section 2053 of the Code on the deductibility of interest expense and the substantiation requirements for the value of certain claims against an estate. Finally, the proposed regulations propose rules under section 2053 of the Code on the deductibility of amounts paid under a decedent’s personal guarantee. The proposed regulations also request public comment and provide notice of a public hearing on the regulations.

This notice sets forth updates on the corporate bond monthly yield curve, the corresponding spot segment rates for June 2022 used under § 417(e)(3)(D), the 24-month average segment rates applicable for June 2022, and the 30-year Treasury rates, as reflected by the application of § 430(h)(2)(C)(iv).

This Notice announces that the Treasury Department and the IRS intend to amend the regulations under sections 59A and 6038A to defer the applicability date of certain provisions of the regulations relating to the reporting of qualified derivative payments until taxable years beginning on or after January 1, 2025.