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IRS ANNOUNCES APPLICABLE FEDERAL RATES FOR DECEMBER.

NOV. 18, 1992

Rev. Rul. 92-104; 1992-2 C.B. 212

DATED NOV. 18, 1992
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Citations: Rev. Rul. 92-104; 1992-2 C.B. 212

Rev. Rul. 92-104

This revenue ruling provides various prescribed rates for federal income tax purposes for December 1992 (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)(2) for buildings placed in service during the current month. 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 applicable rate of interest for 1993 for purposes of sections 846 and 807.

                                Table 1

 

 

           Applicable Federal Rates (AFR) for December 1992

 

 

                             Period for Compounding

 

 

                  Annual     Semiannual    Quarterly      Monthly

 

                  ______     __________    _________      _______

 

 

   Short-Term

 

   __________

 

 

         AFR       4.07%        4.03%        4.01%         4.00%

 

    110% AFR       4.48%        4.43%        4.41%         4.39%

 

    120% AFR       4.90%        4.84%        4.81%         4.79%

 

 

   Mid-Term

 

   ________

 

 

         AFR       6.15%        6.06%        6.01%         5.98%

 

    110% AFR       6.78%        6.67%        6.62%         6.58%

 

    120% AFR       7.40%        7.27%        7.21%         7.16%

 

    150% AFR       9.30%        9.09%        8.99%         8.92%

 

    175% AFR      10.89%       10.61%       10.47%        10.38%

 

 

   Long-Term

 

   _________

 

 

         AFR       7.34%        7.21%        7.15%         7.10%

 

    110% AFR       8.09%        7.93%        7.85%         7.80%

 

    120% AFR       8.84%        8.65%        8.56%         8.50%

 

 

                                Table 2

 

 

                    Adjusted AFR for December 1992

 

 

                                   Period for Compounding

 

                                   ______________________

 

 

                  Annual     Semiannual    Quarterly      Monthly

 

                  ______     __________    _________      _______

 

 

 Short-term

 

 adjusted AFR      3.24%        3.21%        3.20%         3.19%

 

 

 Mid-term

 

 adjusted AFR      4.80%        4.74%        4.71%         4.69%

 

 

 Long-term

 

 adjusted AFR      6.09%        6.00%        5.96%         5.93%

 

 

                                Table 3

 

 

               Rates Under Section 382 for December 1992

 

 

 Adjusted federal long-term rate for the current month     6.09%

 

 

 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).                                        6.09%

 

 

                                Table 4

 

            Appropriate Percentages Under Section 42(b)(2)

 

                           for December 1992

 

 

 Appropriate percentage for the 70% present                8.59%

 

 value low-income housing credit

 

 

 Appropriate percentage for the 30% present                3.68%

 

 value low-income housing credit

 

 

                                Table 5

 

 

               Rate under section 7520 for December 1992

 

 

 Applicable federal rate for determining the

 

 present value of an annuity, an interest for life

 

 or a term of years, or a remainder of reversionary

 

 interest.                                                 7.4%

 

 

                                Table 6

 

 

                   Rates Under Sections 846 and 807

 

 

 Applicable rate of interest for 1993 for purposes of

 

 sections 846 and 807                                     8.10%
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