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IRS ANNOUNCES APPLICABLE FEDERAL RATES FOR DECEMBER.

NOV. 18, 1993

Rev. Rul. 93-82; 1993-2 C.B. 267

DATED NOV. 18, 1993
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Citations: Rev. Rul. 93-82; 1993-2 C.B. 267

Rev. Rul. 93-82

This revenue ruling provides various prescribed rates for federal income tax purposes for December 1993 (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 contains the applicable rate of interest for 1994 for purposes of sections 846 and 807.

                        REV. RUL. 93-82 TABLE 1

 

 

           Applicable Federal Rates (AFR) for December 1993

 

 

                               Period for Compounding

 

                     _____________________________________________

 

                     Annual     Semiannual    Quarterly    Monthly

 

                     ______     __________    _________    _______

 

 

     Short-Term

 

     __________

 

 

           AFR        3.83%        3.79%        3.77%         3.76%

 

      110% AFR        4.21%        4.17%        4.15%         4.13%

 

      120% AFR        4.60%        4.55%        4.52%         4.51%

 

 

     Mid-Term

 

     ________

 

 

           AFR        5.07%        5.01%        4.98%         4.96%

 

      110% AFR        5.59%        5.51%        5.47%         5.45%

 

      120% AFR        6.10%        6.01%        5.97%         5.94%

 

      150% AFR        7.66%        7.52%        7.45%         7.40%

 

      175% AFR        8.96%        8.77%        8.68%         8.61%

 

 

      Long-Term

 

      _________

 

 

           AFR       6.06%        5.97%        5.93%         5.90%

 

      110% AFR       6.68%        6.57%        6.52%         6.48%

 

      120% AFR       7.29%        7.16%        7.10%         7.06%

 

 

                         REV. RUL. 93-82 TABLE 2

 

 

                       Adjusted AFR for December 1993

 

 

                               Period for Compounding

 

                     _____________________________________________

 

                     Annual     Semiannual    Quarterly    Monthly

 

                     ______     __________    _________    _______

 

 

    Short-term

 

    adjusted AFR       2.86%        2.84%         2.83%      2.82%

 

 

    Mid-term

 

    adjusted AFR       4.01%        3.97%         3.95%      3.94%

 

 

    Long-term

 

    adjusted AFR       5.06%        5.00%         4.97%      4.95%

 

 

                         REV. RUL. 93-82 TABLE 3

 

 

              Rates Under Section 382 for December 1993

 

 

      Adjusted federal long-term rate for the current month   5.06%

 

 

      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).                                      5.06%

 

 

                         REV. RUL. 93-82 TABLE 4

 

 

               Appropriate Percentages Under Section 42(b)(2)

 

                             for December 1993

 

 

      Appropriate percentage for the 70% present

 

      value low-income housing credit                          8.30%

 

 

      Appropriate percentage for the 30% present

 

      value low-income housing credit                          3.56%

 

 

                    REV. RUL. 93-82 TABLE 5

 

 

               Rate Under Section 7520 for December 1993

 

 

     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        6.2%

 

 

                    REV. RUL. 93-82 TABLE 6

 

 

                  Rates Under Sections 846 and 807

 

 

      Applicable rate of interest for 1994 for purposes of

 

      sections 846 and 807                                   7.45%
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