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IRS Announces Applicable Federal Rates For December.

NOV. 22, 2000

Rev. Rul. 2000-54; 2000-2 C.B. 566

DATED NOV. 22, 2000
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Citations: Rev. Rul. 2000-54; 2000-2 C.B. 566

Rev. Rul. 2000-54

[1] This revenue ruling provides various prescribed rates for federal income tax purposes for December 2000 (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 2001 interest rate for purposes of sections 846 and 807.

                       REV. RUL. 2000-54 TABLE 1

 

 

           Applicable Federal Rates (AFR) for December 2000

 

 

                        PERIOD FOR COMPOUNDING

 

 

                       Annual    Semiannual   Quarterly   Monthly

 

                       ______    __________   _________   _______

 

 

      SHORT-TERM

 

 

            AFR        6.10%        6.01%       5.97%       5.94%

 

       110% AFR        6.72%        6.61%       6.56%       6.52%

 

       120% AFR        7.34%        7.21%       7.15%       7.10%

 

       130% AFR        7.96%        7.81%       7.74%       7.69%

 

 

      MID-TERM

 

 

            AFR        5.87%        5.79%       5.75%       5.72%

 

       110% AFR        6.47%        6.37%       6.32%       6.29%

 

       120% AFR        7.07%        6.95%       6.89%       6.85%

 

       130% AFR        7.67%        7.53%       7.46%       7.41%

 

       150% AFR        8.88%        8.69%       8.60%       8.54%

 

       175% AFR       10.39%       10.13%      10.00%       9.92%

 

 

      LONG-TERM

 

 

            AFR        5.98%        5.89%       5.85%       5.82%

 

       110% AFR        6.58%        6.48%       6.43%       6.39%

 

       120% AFR        7.19%        7.07%       7.01%       6.97%

 

       130% AFR        7.81%        7.66%       7.59%       7.54%

 

 

                       REV. RUL. 2000-54 TABLE 2

 

 

                    Adjusted AFR for December 2000

 

 

                        PERIOD FOR COMPOUNDING

 

 

                     Annual     Semiannual   Quarterly     Monthly

 

                     ______     __________   _________     _______

 

 

      Short-term

 

      adjusted AFR    4.30%         4.25%       4.23%       4.21%

 

 

      Mid-term

 

      adjusted AFR    4.58%         4.53%       4.50%       4.49%

 

 

      Long-term

 

      adjusted AFR    5.31%         5.24%       5.21%       5.18%

 

 

                       REV. RUL. 2000-54 TABLE 3

 

 

      Rates Under Section 382 for December 2000

 

      Adjusted federal long-term rate for the current month    5.31%

 

 

      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.)                                       5.39%

 

 

                       REV. RUL. 2000-54 TABLE 4

 

 

            Appropriate Percentages Under Section 42(b)(2)

 

                           for December 2000

 

 

      Appropriate percentage for the 70% present

 

      value low-income housing credit                          8.39%

 

 

      Appropriate percentage for the 30% present

 

      value low-income housing credit                          3.59%

 

 

                       REV. RUL. 2000-54 TABLE 5

 

 

               Rate Under Section 7520 for December 2000

 

 

      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         7.0%

 

 

                       REV. RUL. 2000-54 TABLE 6

 

 

                    Rate Under Sections 846 and 807

 

 

      Applicable rate of interest for 2001 for purposes

 

      of sections 846 and 807                                  6.00%
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