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Internal Revenue Bulletin:  2014-19 

May 5, 2014 

Rev. Rul. 2014–13


Table of Contents

This revenue ruling provides various prescribed rates for federal income tax purposes for May 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. 2014–13 TABLE 1
Applicable Federal Rates (AFR) for May 2014
Period for Compounding
  Annual Semiannual Quarterly Monthly
Short-term
AFR .33% .33% .33% .33%
110% AFR .36% .36% .36% .36%
120% AFR .40% .40% .40% .40%
130% AFR .43% .43% .43% .43%
Mid-term
AFR 1.93% 1.92% 1.92% 1.91%
110% AFR 2.12% 2.11% 2.10% 2.10%
120% AFR 2.31% 2.30% 2.29% 2.29%
130% AFR 2.52% 2.50% 2.49% 2.49%
150% AFR 2.90% 2.88% 2.87% 2.86%
175% AFR 3.39% 3.36% 3.35% 3.34%
Long-term
AFR 3.27% 3.24% 3.23% 3.22%
110% AFR 3.59% 3.56% 3.54% 3.53%
120% AFR 3.93% 3.89% 3.87% 3.86%
130% AFR 4.25% 4.21% 4.19% 4.17%
REV. RUL. 2014–13 TABLE 2
Adjusted AFR for May 2014
Period for Compounding
  Annual Semiannual Quarterly Monthly
Short-term adjusted AFR .33% .33% .33% .33%
Mid-term adjusted AFR 1.41% 1.41% 1.41% 1.41%
Long-term adjusted AFR 3.27% 3.24% 3.23% 3.22%
REV. RUL. 2014–13 TABLE 3
Rates Under Section 382 for May 2014
Adjusted federal long-term rate for the current month 3.27%
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.) 3.36%
REV. RUL. 2014–13 TABLE 4
Appropriate Percentages Under Section 42(b)(1) for May 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. 2014–13 TABLE 5
Rate Under Section 7520 for May 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%

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