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Internal Revenue Bulletin:  2014-24 

June 9, 2014 

Rev. Rul. 2014–16


Table of Contents

This revenue ruling provides various prescribed rates for federal income tax purposes for June 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. 2014–16 TABLE 1
Applicable Federal Rates (AFR) for June 2014
Period for Compounding
  Annual Semiannual Quarterly Monthly
Short-term
AFR .32% .32% .32% .32%
110% AFR .35% .35% .35% .35%
120% AFR .38% .38% .38% .38%
130% AFR .42% .42% .42% .42%
Mid-term
AFR 1.91% 1.90% 1.90% 1.89%
110% AFR 2.10% 2.09% 2.08% 2.08%
120% AFR 2.29% 2.28% 2.27% 2.27%
130% AFR 2.49% 2.47% 2.46% 2.46%
150% AFR 2.87% 2.85% 2.84% 2.83%
175% AFR 3.36% 3.33% 3.32% 3.31%
Long-term
AFR 3.14% 3.12% 3.11% 3.10%
110% AFR 3.46% 3.43% 3.42% 3.41%
120% AFR 3.77% 3.74% 3.72% 3.71%
130% AFR 4.10% 4.06% 4.04% 4.03%
REV. RUL. 2014–16 TABLE 2
Adjusted AFR for June 2014
Period for Compounding
  Annual Semiannual Quarterly Monthly
Short-term adjusted AFR .32% .32% .32% .32%
Mid-term adjusted AFR 1.37% 1.37% 1.37% 1.37%
Long-term adjusted AFR 3.14% 3.12% 3.11% 3.10%
REV. RUL. 2014–16 TABLE 3
Rates Under Section 382 for June 2014
Adjusted federal long-term rate for the current month 3.14%
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.) 3.32%
REV. RUL. 2014–16 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 7.58%
Appropriate percentage for the 30% present value low-income housing credit 3.25%
REV. RUL. 2014–16 TABLE 5
Rate Under Section 7520 for June 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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