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IRS Announces Applicable Federal Rates For March.

FEB. 17, 2005

Rev. Rul. 2005-13; 2005-1 C.B. 664

DATED FEB. 17, 2005
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Citations: Rev. Rul. 2005-13; 2005-1 C.B. 664

Rev. Rul. 2005-13

This revenue ruling provides various prescribed rates for federal income tax purposes for March 2005 (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. Finally, 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.

                       REV. RUL. 2005-13 TABLE 1

 

 

             Applicable Federal Rates (AFR) for March 2005

 

 

                           Period for Compounding

 

 

                    Annual    Semiannual     Quarterly     Monthly

 

                    ______    __________     _________     _______

 

                                 Short-term

 

 

      AFR            3.08%       3.06%          3.05%       3.04%

 

      110% AFR       3.40%       3.37%          3.36%       3.35%

 

      120% AFR       3.70%       3.67%          3.65%       3.64%

 

      130% AFR       4.02%       3.98%          3.96%       3.95%

 

 

                                  Mid-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%

 

      130% AFR       4.99%       4.93%          4.90%       4.88%

 

      150% AFR       5.77%       5.69%          5.65%       5.62%

 

      175% AFR       6.74%       6.63%          6.58%       6.54%

 

 

                                 Long-term

 

 

      AFR            4.52%       4.47%          4.45%       4.43%

 

      110% AFR       4.98%       4.92%          4.89%       4.87%

 

      120% AFR       5.43%       5.36%          5.32%       5.30%

 

      130% AFR       5.89%       5.81%          5.77%       5.74%

 

 

                         REV. RUL. 2005-13 TABLE 2

 

 

                        Adjusted AFR for March 2005

 

 

                           Period for Compounding

 

 

                    Annual    Semiannual     Quarterly     Monthly

 

                    ______    __________     _________     _______

 

      Short-term

 

      adjusted AFR   2.23%       2.22%         2.21%        2.21%

 

 

      Mid-term

 

      adjusted AFR   2.91%       2.89%         2.88%        2.87%

 

 

      Long-term

 

      adjusted AFR   4.09%       4.05%         4.03%        4.02%

 

 

                         REV. RUL. 2005-13 TABLE 3

 

 

                   Rates Under Section 382 for March 2005

 

 

      Adjusted federal long-term rate for the current month        4.09%

 

 

      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.)       4.27%

 

 

                         REV. RUL. 2005-13 TABLE 4

 

 

       Appropriate Percentages Under Section 42(b)(2) for March 2005

 

 

      Appropriate percentage for the 70% present value low-income

 

      housing credit                                               7.97%

 

 

      Appropriate percentage for the 30% present value low-income

 

      housing credit                                               3.42%

 

 

                         REV. RUL. 2005-13 TABLE 5

 

 

                   Rate Under Section 7520 for March 2005

 

 

      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                     4.60%
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