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The IRS recently issued 2013 federal tax rates.

IRS Releases Federal Tax Rates for August 2013

  • 7/31/2013

IRS Releases Federal Tax Rates for August 2013

The IRS recently issued 2013 federal tax rates.

Applicable federal rates (AFRS) Annual Semi-annual Quarterly Monthly
Short-term  .28 .28 .28 .28
Mid-term   1.63 1.62 1.62 1.61
Long-term   3.16 3.14 3.13 3.12

The short-term, mid-term, and long-term adjusted applicable federal rates (adjusted AFR) for August 2013 for purposes of Code Section 1288(b) are 0.28 percent, 1.61 percent, and 3.16 percent, respectively, when annual compounding is used.

Additionally, the Code Section 382 adjusted federal long-term rate is 3.16 percent, and the long-term tax-exempt rate is also 3.16 percent. The Code Section 42(b)(2) appropriate percentage for the 70-percent present-value, low-income housing credit is 7.55 percent, and the appropriate percentage for the 30-percent, present-value, low-income housing credit is 3.24.

Finally, the Code Section 7520 AFR for determining the present value of an annuity, an interest for life or a term of years, or a remainder or reversionary interest is 2 percent.

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