IRS Announces March 2009 AFRs

Revenue Ruling 2009-08 provides various prescribed rates for federal income tax
purposes for March 2009 (the current month) 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 2.4 percent.

The AFRs are as follows:

Short-Term:

• Annual:                0.72 percent
• Semi-Annual:       0.72 percent
• Quarterly:            0.72 percent
• Monthly:              0.72 percent

Mid-Term:

• Annual:               1.94 percent
• Semi-Annual:       1.93 percent
• Quarterly:            1.93 percent
• Monthly:              1.92 percent

Long-Term

• Annual:               3.52 percent
• Semi-Annual:       3.49 percent
• Quarterly:            3.47 percent
• Monthly:              3.46 percent

Posted by Min Young Choi, Associate Editor, Wealth Strategies Journal.