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Internal Revenue Bulletin:  2015-40 

October 5, 2015 

Rev. Rul. 2015–21


Table of Contents

This revenue ruling provides various prescribed rates for federal income tax purposes for October 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%. 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. 2015–21 TABLE 1
Applicable Federal Rates (AFR) for October 2015
Period for Compounding
  Annual Semiannual Quarterly Monthly
Short-term
AFR .55% .55% .55% .55%
110% AFR .61% .61% .61% .61%
120% AFR .66% .66% .66% .66%
130% AFR .72% .72% .72% .72%
Mid-term
AFR 1.67% 1.66% 1.66% 1.65%
110% AFR 1.84% 1.83% 1.83% 1.82%
120% AFR 2.00% 1.99% 1.99% 1.98%
130% AFR 2.17% 2.16% 2.15% 2.15%
150% AFR 2.51% 2.49% 2.48% 2.48%
175% AFR 2.93% 2.91% 2.90% 2.89%
Long-term
AFR 2.58% 2.56% 2.55% 2.55%
110% AFR 2.84% 2.82% 2.81% 2.80%
120% AFR 3.09% 3.07% 3.06% 3.05%
130% AFR 3.36% 3.33% 3.32% 3.31%
REV. RUL. 2015–21 TABLE 2
Adjusted AFR for October 2015
Period for Compounding
  Annual Semiannual Quarterly Monthly
Short-term adjusted AFR .42% .42% .42% .42%
Mid-term adjusted AFR 1.58% 1.57% 1.57% 1.56%
Long-term adjusted AFR 2.58% 2.56% 2.55% 2.55%
REV. RUL. 2015–21 TABLE 3
Rates Under Section 382 for October 2015
Adjusted federal long-term rate for the current month 2.58%
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.) 2.82%
REV. RUL. 2015–21 TABLE 4
Appropriate Percentages Under Section 42(b)(1) for October 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 7.49%
Appropriate percentage for the 30% present value low-income housing credit 3.21%
REV. RUL. 2015–21 TABLE 5
Rate Under Section 7520 for October 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 2.0%

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