The US Treasury (Internal Revenue Service) issues a revenue ruling each month with interest rates. The current revenue ruling is Rev. Rul. 2010-1. Highlighted below are the various applicable federal rates and housing tax credit applicable percentages for January 2010 for your reference and use, as listed in this ruling. We hope you will find this a useful reference.
This revenue ruling provides various prescribed rates for federal income tax purposes for January 2010 (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, and before December 31, 2013, shall not be less than 9 percent. 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. Finally, Table 6 contains the deemed rate of return for transfers made during calendar year 2010 to pooled income funds described in section 642(c)(5) that have been in existence for less than three taxable years immediately preceding the taxable year in which the transfer was made.
Rev. Rul. 2010-1 TABLE 1
Applicable Federal Rates (AFR) for January 2010
Rev. Rul. 2010-1 TABLE 2
Adjusted AFR for January 2010
Rev. Rul. 2010-1 TABLE 3
Rates Under Section 382 for January 2010
Rev. Rul. 2010-1 TABLE 4
Appropriate Percentages Under Section 42(b)(1) for January 2010
Note: Under Section 42(b)(2), the applicable percentage for nonfederally subsidized new buildings placed in service after July 30, 2008 and before December 31, 2013 shall not be less than 9 percent.
Rev. Rul. 2010-1 TABLE 5
Rate Under Section 7520 for January 2010
Rev. Rul. 2010-1 TABLE 6
Deemed Rate for Transfers to New Pooled Income Funds During 2010
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