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Internal Revenue Bulletin:  2015-27 

July 6, 2015 

Rev. Rul. 2015–15


This revenue ruling provides various prescribed rates for federal income tax purposes for July 2015 (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, 2015 shall not be less than 9%.

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. Finally, Table 6 contains the blended annual rate for 2015 for purposes of section 7872.

REV. RUL. 2015–15 TABLE 1
Applicable Federal Rates (AFR) for July 2015
Period for Compounding
  Annual Semiannual Quarterly Monthly
Short-term
AFR .48% .48% .48% .48%
110% AFR .53% .53% .53% .53%
120% AFR .58% .58% .58% .58%
130% AFR .62% .62% .62% .62%
Mid-term
AFR 1.77% 1.76% 1.76% 1.75%
110% AFR 1.95% 1.94% 1.94% 1.93%
120% AFR 2.12% 2.11% 2.10% 2.10%
130% AFR 2.30% 2.29% 2.28% 2.28%
150% AFR 2.66% 2.64% 2.63% 2.63%
175% AFR 3.10% 3.08% 3.07% 3.06%
Long-term
AFR 2.74% 2.72% 2.71% 2.70%
110% AFR 3.01% 2.99% 2.98% 2.97%
120% AFR 3.29% 3.26% 3.25% 3.24%
130% AFR 3.57% 3.54% 3.52% 3.51%
REV. RUL. 2015–15 TABLE 2
Adjusted AFR for July 2015
Period for Compounding
  Annual Semiannual Quarterly Monthly
Short-term
adjusted AFR .48% .48% .48% .48%
Mid-term
adjusted AFR 1.67% 1.66% 1.66% 1.65%
Long-term
adjusted AFR 2.74% 2.72% 2.71% 2.70%
REV. RUL. 2015–15 TABLE 3
Rates Under Section 382 for July 2015
Adjusted federal long-term rate for the current month 2.74%
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.) 2.74%
REV. RUL. 2015–15 TABLE 4
Appropriate Percentages Under Section 42(b)(1) for July 2015 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, 2015 shall not be less than 9%.
Appropriate percentage for the 70% present value low-income housing credit 7.52%
Appropriate percentage for the 30% present value low-income housing credit 3.22%
REV. RUL. 2015–15 TABLE 5
Rate Under Section 7520 for July 2015
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%
REV. RUL. 2015–15 TABLE 6
Blended Annual Rate for 2015
Section 7872(e)(2) blended annual rate for 2015 .45%

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