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IRS Announces Applicable Federal Rates For August.

JUL. 19, 2001

Rev. Rul. 2001-36; 2001-2 C.B. 119

DATED JUL. 19, 2001
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Citations: Rev. Rul. 2001-36; 2001-2 C.B. 119

Rev. Rul. 2001-36

[1] This revenue ruling provides various prescribed rates for federal income tax purposes for August 2001 (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. 2001-36 TABLE 1

 

            Applicable Federal Rates (AFR) for August 2001

 

 

                        Period for Compounding

 

 

                     Annual     Semiannual   Quarterly   Monthly

 

                     ______     __________   _________   _______

 

    Short-Term

 

    __________

 

          AFR        3.94%        3.90%       3.88%       3.87%

 

     110% AFR        4.34%        4.29%       4.27%       4.25%

 

     120% AFR        4.73%        4.68%       4.65%       4.64%

 

     130% AFR        5.13%        5.07%       5.04%       5.02%

 

 

    Mid-Term

 

 

          AFR        4.99%        4.93%       4.90%       4.88%

 

     110% AFR        5.49%        5.42%       5.38%       5.36%

 

     120% AFR        6.01%        5.92%       5.88%       5.85%

 

     130% AFR        6.51%        6.41%       6.36%       6.33%

 

     150% AFR        7.54%        7.40%       7.33%       7.29%

 

     175% AFR        8.82%        8.63%       8.54%       8.48%

 

 

    Long-Term

 

 

          AFR        5.72%        5.64%       5.60%       5.57%

 

     110% AFR        6.30%        6.20%       6.15%       6.12%

 

     120% AFR        6.88%        6.77%       6.71%       6.68%

 

     130% AFR        7.46%        7.33%       7.26%       7.22%

 

 

                       REV. RUL. 2001-36 TABLE 2

 

                     Adjusted AFR for August 2001

 

 

                        Period for Compounding

 

 

                     Annual     Semiannual   Quarterly   Monthly

 

 

     Short-term

 

     adjusted AFR    3.01%      2.99%        2.98%       2.97%

 

 

     Mid-term

 

     adjusted AFR    3.83%      3.79%        3.77%       3.76%

 

 

     Long-term

 

     adjusted AFR    4.94%      4.88%        4.85%       4.83%

 

 

                       REV. RUL. 2001-36 TABLE 3

 

 

      Rates Under Section 382 for August 2001

 

      Adjusted federal long-term rate for the current month       4.94%

 

 

      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.)                                          5.01%

 

 

                       REV. RUL. 2001-36 TABLE 4

 

 

      Appropriate Percentages Under Section 42(b)(2)

 

      for August 2001

 

 

      Appropriate percentage for the 70% present

 

      value low-income housing credit                             8.25%

 

 

      Appropriate percentage for the 30% present

 

      value low-income housing credit                             3.54%

 

 

                       REV. RUL. 2001-36 TABLE 5

 

 

                Rate Under Section 7520 for August 2001

 

 

      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            6.0%
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