Various prescribed rates for federal income tax purposes for July 2011 have been provided by the IRS. The annual short-term, mid-term, and long-term applicable federal interest rates (AFRs) are 0.37 percent, 2.00 percent and 3.86 percent, respectively. The semiannual short-term, mid-term, and long-term AFRs are 0.37 percent, 1.99 percent and 3.82 percent, respectively. Quarterly short-term, mid-term and long-term AFRs are 0.37 percent, 1.99 percent and 3.80 percent, respectively. Finally, the monthly short-term, mid-term and long-term rates are 0.37 percent, 1.98 percent and 3.79 percent, respectively.
The short-term, mid-term, and long-term adjusted applicable federal rates (adjusted AFR) for July 2011 for purposes of Code Sec. 1288(b) are 0.53 percent, 1.57 percent, and 3.86 percent, respectively, when annual compounding is used.
Additionally, the Code Sec. 382 adjusted federal long-term rate is 3.86 percent, and the long-term tax-exempt rate is 4.30 percent. The Code Sec. 42(b)(2) appropriate percentage for the 70-percent present-value, low-income housing credit is 7.68 percent, and the appropriate percentage for the 30-percent present-value, low-income housing credit is 3.29 percent. TheCode Sec. 7520 AFR for determining the present value of an annuity, an interest for life or a term of years, or a remainder or reversionary interest is 2.40 percent.
Finally, the blended annual rate for 2011 for purposes of Code Sec. 7872(e)(2) is 0.40 percent.
Rev. Rul. 2011-14, 2011FED ¶46,399
Rev. Rul. 2011-14, FINH ¶30,673
Code Sec. 42
CCH Reference – 2011FED ¶173.02
CCH Reference – 2011FED ¶176.01
CCH Reference – 2011FED ¶4385.03
Code Sec. 382
CCH Reference – 2011FED ¶17,115.28
Code Sec. 1274
CCH Reference – 2011FED ¶31,310.05
Code Sec. 7520
CCH Reference – 2011FED ¶42,785.45
CCH Reference – FINH ¶22,630.05
Code Sec. 7872
CCH Reference – 2011FED ¶43,960.14
CCH Reference – FINH ¶18,950.05
Tax Research Consultant
CCH Reference – TRC ACCTNG: 36,162.05