IRS Announces Applicable Federal Rates For August.
Rev. Rul. 2001-36; 2001-2 C.B. 119
- Institutional AuthorsInternal Revenue Service
- Cross-ReferencePart I
- Code Sections
- Subject Area/Tax Topics
- Index TermsOID, debt for property
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 2001-19724 (3 original pages)
- Tax Analysts Electronic Citation2001 TNT 140-8
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%
- Institutional AuthorsInternal Revenue Service
- Cross-ReferencePart I
- Code Sections
- Subject Area/Tax Topics
- Index TermsOID, debt for property
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 2001-19724 (3 original pages)
- Tax Analysts Electronic Citation2001 TNT 140-8