Daily Tax Report ®

IRS Rev. Rul.: Applicable Federal Rates for December 2019 (IRC §1274)

Nov. 19, 2019, 3:31 PM

The IRS November 19 released the prescribed rates for federal income tax purposes for December 2019, including the applicable federal rates (AFR) under tax code Section 1274(d); the adjusted applicable federal rates (adjusted AFR) under Section 1288(b); the adjusted federal long-term rate and the long-term tax-exempt rate under Section 382(f); the appropriate percentages for determining the low-income housing credit under Section 42(b)(1); and 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 under...

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