Internal Revenue Bulletin:  2014-7 

February 10, 2014 

Rev. Rul. 2014–6


Table of Contents

This revenue ruling provides various prescribed rates for federal income tax purposes for February 2014 (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)(1) for buildings placed in service during the current month. However, under section 42(b)(2), the applicable percentage for non-federally subsidized new buildings placed in service after July 30, 2008, with respect to housing credit dollar amount allocations made before January 1, 2014, shall not be less than 9%. 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 of a reversionary interest for purposes of section 7520.

REV. RUL. 2014–6 TABLE 1
Applicable Federal Rates (AFR) for February 2014
Period for Compounding
  Annual Semiannual Quarterly Monthly
Short-term
AFR .30% .30% .30% .30%
110% AFR .33% .33% .33% .33%
120% AFR .36% .36% .36% .36%
130% AFR .39% .39% .39% .39%
Mid-term
AFR 1.97% 1.96% 1.96% 1.95%
110% AFR 2.17% 2.16% 2.15% 2.15%
120% AFR 2.36% 2.35% 2.34% 2.34%
130% AFR 2.57% 2.55% 2.54% 2.54%
150% AFR 2.96% 2.94% 2.93% 2.92%
175% AFR 3.46% 3.43% 3.42% 3.41%
Long-term
AFR 3.56% 3.53% 3.51% 3.50%
110% AFR 3.92% 3.88% 3.86% 3.85%
120% AFR 4.28% 4.24% 4.22% 4.20%
130% AFR 4.64% 4.59% 4.56% 4.55%
REV. RUL. 2014–6 TABLE 2
Adjusted AFR for February 2014
Period for Compounding
  Annual Semiannual Quarterly Monthly
Short-term adjusted AFR .30% .30% .30% .30%
Mid-term adjusted AFR 1.56% 1.55% 1.55% 1.55%
Long-term adjusted AFR 3.56% 3.53% 3.51% 3.50%
REV. RUL. 2014–6 TABLE 3
Rates Under Section 382 for February 2014
Adjusted federal long-term rate for the current month 3.56%
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.) 3.56%
REV. RUL. 2014–6 TABLE 4
Appropriate Percentages Under Section 42(b)(1) for February 2014
Note: Under section 42(b)(2), the applicable percentage for non-federally subsidized new buildings placed in service after July 30, 2008, with respect to housing credit dollar amount allocations made before January 1, 2014, shall not be less than 9%.
Appropriate percentage for the 70% present value low-income housing credit 7.64%
Appropriate percentage for the 30% present value low-income housing credit 3.27%
REV. RUL. 2014–6 TABLE 5
Rate Under Section 7520 for February 2014
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 2.4%

More Internal Revenue Bulletins