IRS Releases June AFRs

Revenue Ruling 2011-13 provides various prescribed rates for June 2011 for federal income tax purposes including the 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 section 1274.

The section 7520 rate is 2.8 percent.

The AFRs are as follows:

Short-Term:

• Annual:                     .46 percent
  
• Semi-Annual:            .46 percent         
• Quarterly:                 .46 percent
  
• Monthly:                   .46 percent
  

Mid-Term:

• Annual:                    2.27 percent
  
• Semi-Annual:            2.26 percent
  
• Quarterly:                 2.25 percent
  
• Monthly:                   2.25 percent
  

Long-Term:

• Annual:                    4.05 percent
  
• Semi-Annual:            4.01 percent
  
• Quarterly:                 3.99 percent
  
• Monthly:                   3.98 percent
  

Posted by Jessica Rebarber, Associate Editor, Wealth Strategies Journal