Internal Revenue Bulletin:  2014-11 

March 10, 2014 

Rev. Rul. 2014–8


Table of Contents

This revenue ruling provides various prescribed rates for federal income tax purposes for March 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 or a reversionary interest for purposes of section 7520.

REV. RUL. 2014–8 TABLE 1
Applicable Federal Rates (AFR) for March 2014
Period for Compounding
  Annual Semiannual Quarterly Monthly
Short-term
AFR .28% .28% .28% .28%
110% AFR .31% .31% .31% .31%
120% AFR .34% .34% .34% .34%
130% AFR .36% .36% .36% .36%
Mid-term
AFR 1.84% 1.83% 1.83% 1.82%
110% AFR 2.02% 2.01% 2.00% 2.00%
120% AFR 2.21% 2.20% 2.19% 2.19%
130% AFR 2.39% 2.38% 2.37% 2.37%
150% AFR 2.77% 2.75% 2.74% 2.73%
175% AFR 3.23% 3.20% 3.19% 3.18%
Long-term
AFR 3.36% 3.33% 3.32% 3.31%
110% AFR 3.69% 3.66% 3.64% 3.63%
120% AFR 4.04% 4.00% 3.98% 3.97%
130% AFR 4.38% 4.33% 4.31% 4.29%
REV. RUL. 2014–8 TABLE 2
Adjusted AFR for March 2014
Period for Compounding
  Annual Semiannual Quarterly Monthly
Short-term adjusted AFR .28% .28% .28% .28%
Mid-term adjusted AFR 1.84% 1.83% 1.83% 1.82%
Long-term adjusted AFR 3.36% 3.33% 3.32% 3.31%
REV. RUL. 2014–8 TABLE 3
Rates Under Section 382 for March 2014
Adjusted federal long-term rate for the current month 3.36%
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. 2014–8 TABLE 4
Appropriate Percentages Under Section 42(b)(1) for March 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 7.60%
Appropriate percentage for the 30% present value low-income housing credit 3.26%
REV. RUL. 2014–8 TABLE 5
Rate Under Section 7520 for March 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 2.2%

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