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IRS ANNOUNCES APPLICABLE FEDERAL RATES FOR DECEMBER.

NOV. 19, 1991

Rev. Rul. 91-62; 1991-2 C.B. 357

DATED NOV. 19, 1991
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Citations: Rev. Rul. 91-62; 1991-2 C.B. 357

Rev. Rul. 91-62

This revenue ruling provides various prescribed rates for federal income tax purposes for December 1991 (the current month). Table 1 contains the short-term, mid-term, and long-term applicable federal rates (AFR) for the current month for purposes of section 1274(d) of the Internal Revenue Code. Table 2 contains the short- term, mid-term, and long-term adjusted applicable federal rates (adjusted AFR) for the current month for purposes of section 1288(b). Table 3 sets forth the adjusted federal long-term rate and the long- term tax-exempt rate described in section 382(f). Table 4 contains the appropriate percentages for determining the low-income housing credit described in section 42(b)(2) for buildings placed in service during the current month. Table 5 contains the federal rate for determining the present value of an annuity, an interest for life or for a term of years, or a remainder or a reversionary interest for purposes of section 7520. Finally, Table 6 includes the 1992 blended annual rate for purposes of section 7872(e)(2).

                                Table 1

 

 

           Applicable Federal Rates (AFR) for December 1991

 

 

                           PERIOD FOR COMPOUNDING

 

 

                ANNUAL    SEMIANNUAL     QUARTERLY      MONTHLY

 

                ______    __________     _________      ________

 

 Short-Term

 

 __________

 

 

      AFR        5.63%       5.55%          5.51%         5.49%

 

 110% AFR        6.20%       6.11%          6.06%         6.03%

 

 120% AFR        6.77%       6.66%          6.61%         6.57%

 

 

 Mid-Term

 

 ________

 

 

      AFR        7.07%       6.95%          6.89%         6.85%

 

 110% AFR        7.80%       7.65%          7.58%         7.53%

 

 120% AFR        8.51%       8.34%          8.25%         8.20%

 

 150% AFR       10.70%      10.43%         10.30%        10.21%

 

 175% AFR       12.53%      12.16%         11.98%        11.86%

 

 

 Long-Term

 

 _________

 

 

      AFR        7.88%       7.73%          7.68%         7.61%

 

 110% AFR        8.68%       8.50%          8.41%         8.35%

 

 120% AFR        9.50%       9.28%          9.17%         9.11%

 

 

                                Table 2

 

 

                    Adjusted AFR for December 1991

 

 

                        PERIOD FOR COMPOUNDING

 

 

                ANNUAL    SEMIANNUAL     QUARTERLY      MONTHLY

 

                ______    __________     _________      ________

 

 

 Short-term

 

 adjusted AFR    4.69%       4.64%          4.61%         4.60%

 

 

 Mid-term

 

 adjusted AFR    5.38%       5.31%          5.28%         5.25%

 

 

 Long-term

 

 adjusted AFR    6.32%       6.22%          6.17%         6.14%

 

 

                                Table 3

 

 

               Rates Under Section 382 for December 1991

 

      Adjusted federal long-term rate for the current month    6.32%

 

 

      Long-term tax-exempt rate for ownership changes

 

      during the current month (the highest of the adjusted

 

      federal long-term rates for the current month and the

 

      prior two months).                                       6.53%

 

 

                                Table 4

 

 

            Appropriate Percentages Under Section 42(b)(2)

 

                           for December 1991

 

 

 Appropriate percentage for the 70% present

 

 value low-income housing credit                               8.76%

 

 

 Appropriate percentage for the 30% present

 

 value low-income housing credit                               3.76%

 

 

                                Table 5

 

 

               Rate under section 7520 for December 1991

 

 

 Applicable federal rate for determining the present

 

 value of an annuity, an interest for life or a term

 

 of years, or a remainder or reversionary interest             8.6%

 

 

                        REV. RUL. 91-62 TABLE

 

 

                    Rate Under Sections 846 and 807

 

 

 Applicable Rate of Interest for 1992 for purposes of

 

 sections 846 and 807.                                          8.40%
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