IRS Logo

Internal Revenue Bulletin:  2014-15 

April 7, 2014 

Rev. Rul. 2014–12


Table of Contents

This revenue ruling provides various prescribed rates for federal income tax purposes for April 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. 2014–12 TABLE 1
Applicable Federal Rates (AFR) for April 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 1.81% 1.80% 1.80% 1.79%
110% AFR 1.99% 1.98% 1.98% 1.97%
120% AFR 2.17% 2.16% 2.15% 2.15%
130% AFR 2.35% 2.34% 2.33% 2.33%
150% AFR 2.72% 2.70% 2.69% 2.68%
175% AFR 3.17% 3.15% 3.14% 3.13%
Long-term
AFR 3.32% 3.29% 3.28% 3.27%
110% AFR 3.65% 3.62% 3.60% 3.59%
120% AFR 3.99% 3.95% 3.93% 3.92%
130% AFR 4.33% 4.28% 4.26% 4.24%
REV. RUL. 2014–12 TABLE 2
Adjusted AFR for April 2014
Period for Compounding
  Annual Semiannual Quarterly Monthly
Short-term adjusted AFR .26% .26% .26% .26%
Mid-term adjusted AFR 1.35% 1.35% 1.35% 1.35%
Long-term adjusted AFR 3.32% 3.29% 3.28% 3.27%
REV. RUL. 2014–12 TABLE 3
Rates Under Section 382 for April 2014
Adjusted federal long-term rate for the current month 3.32%
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. 2014–12 TABLE 4
Appropriate Percentages Under Section 42(b)(1) for April 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 7.59%
Appropriate percentage for the 30% present value low-income housing credit 3.25%
REV. RUL. 2014–12 TABLE 5
Rate Under Section 7520 for April 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%

More Internal Revenue Bulletins