IRS Announces December 2008 AFRs

Revenue Ruling 2008-53, provides various prescribed rates for federal income tax purposes including the applicable federal interest rates, the adjusted applicable federal interest rates, the adjusted federal long-term rate, the adjusted federal long-term tax-exempt rate. These rates are determined as prescribed by § 1274. 

The Section 7520 rate is 3.4 percent.

The AFRs are as follows:

Short-Term:

• Annual:               1.36 percent
• Semi-Annual:      1.36 percent
• Quarterly:            1.36 percent
• Monthly:              1.36 percent

Mid-Term:

• Annual:               2.85 percent
• Semi-Annual:      2.83 percent
• Quarterly:            2.82 percent
• Monthly:              2.81 percent

Long-Term

• Annual:               4.45 percent
• Semi-Annual:      4.40 percent
• Quarterly:            4.38 percent
• Monthly:              4.36 percent

Posted by Lewis J. Saret, General Editor, Wealth Strategies Journal.