SERVICE RELEASES APPLICABLE FEDERAL RATES FOR FEBRUARY.
Rev. Rul. 89-15; 1989-1 C.B. 262
- Institutional AuthorsInternal Revenue Service
- Code Sections
- Index TermsNITA
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 89-535
- Tax Analysts Electronic Citation89 TNT 17-23
Rev. Rul. 89-15
This revenue ruling provides various prescribed rates for federal income tax purposes for February 1989 (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). Finally, Table 4 contains the appropriate percentages for determining the low-income housing credit described in section 42(b)(2) for buildings placed in service during the current month.
Table 1
Applicable Federal Rates (AFR) for February 1989
PERIOD FOR COMPOUNDING
______________________
ANNUAL SEMIANNUAL QUARTERLY MONTHLY
______ __________ _________ _______
SHORT-TERM
___________
AFR 9.30% 9.09% 8.99% 8.92%
110% AFR 10.25% 10.00% 9.88% 9.80%
120% AFR 11.21% 10.91% 10.77% 10.67%
MID-TERM
________
AFR 9.42% 9.21% 9.11% 9.04%
110% AFR 10.39% 10.13% 10.00% 9.92%
120% AFR 11.36% 11.05% 10.90% 10.80%
LONG-TERM
AFR 9.29% 9.08% 8.98% 8.91%
110% AFR 10.24% 9.99% 9.87% 9.79%
120% AFR 11.20% 10.90% 10.76% 10.66%
Table 2
Adjusted AFR for February 1989
PERIOD FOR COMPOUNDING
_______________________
ANNUAL SEMIANNUAL QUARTERLY MONTHLY
______ __________ _________ _______
Short-term
adjusted AFR 5.98% 5.89% 5.85% 5.82%
Mid-term
adjusted AFR 6.40% 6.30% 6.25% 6.22%
Long-term
adjusted AFR 7.29% 7.16% 7.10% 7.06%
Table 3
Rates Under Section 382 for February 1989
Adjusted federal long-term rate for the current month 7.29%
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). 7.29%
Table 4
Appropriate Percentages Under Section 42(b)(2)
for February 1989
Appropriate percentage for the 70% present
value low-income housing credit 9.22%
Appropriate percentage for the 305 present
value low-income housing credit 3.95%
- Institutional AuthorsInternal Revenue Service
- Code Sections
- Index TermsNITA
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 89-535
- Tax Analysts Electronic Citation89 TNT 17-23