IRS Releases July AFRs

Revenue Ruling 2011-14 provides various prescribed rates for July 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 2.4 percent.

The AFRs are as follows:

Short-Term:

• Annual:                     .37 percent
  
• Semi-Annual:            .37 percent         
• Quarterly:                  .37 percent
  
• Monthly:                    .37 percent
  

Mid-Term:

• Annual:                      2.00 percent
  
• Semi-Annual:            1.99 percent
  
• Quarterly:                  1.99 percent
  
• Monthly:                    1.98 percent
  

Long-Term:

• Annual:                     3.86 percent
  
• Semi-Annual:            3.82 percent
  
• Quarterly:                  3.80 percent
  
• Monthly:                    3.79 percent

Posted by Joseph Siegmann, Associate Editor, Wealth Strategies Journal.