Issue Number: RR-2012-31
Inside This Issue
Section 1274.--Determination of Issue Price in the Case of Certain Debt Instruments Issued for Property
(Also Sections 42, 280G, 382, 412, 467, 468, 482, 483, 642, 807, 846, 1288, 7520, 7872.)
Rev. Rul. 2012-31
This revenue ruling provides various prescribed rates for federal income tax purposes for December 2012 (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%. 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 contains the 2013 interest rate for sections 846 and 807.
REV. RUL. 2012-31 TABLE 1
Applicable Federal Rates (AFR) for December 2012
Period for Compounding
Annual Semiannual Quarterly Monthly
Short-term
AFR .24% .24% .24% .24%
110% AFR .26% .26% .26% .26%
120% AFR .29% .29% .29% .29%
130% AFR .31% .31% .31% .31%
Mid-term
AFR .95% .95% .95% .95%
110% AFR 1.05% 1.05% 1.05% 1.05%
120% AFR 1.14% 1.14% 1.14% 1.14%
130% AFR 1.24% 1.24% 1.24% 1.24%
150% AFR 1.44% 1.43% 1.43% 1.43%
175% AFR 1.67% 1.66% 1.66% 1.65%
Long-term
AFR 2.40% 2.39% 2.38% 2.38%
110% AFR 2.65% 2.63% 2.62% 2.62%
120% AFR 2.89% 2.87% 2.86% 2.85%
130% AFR 3.13% 3.11% 3.10% 3.09%
REV. RUL. 2012-31 TABLE 2
Adjusted AFR for December 2012
Period for Compounding
Annual Semiannual Quarterly Monthly
Short-term
adjusted AFR .27% .27% .27% .27%
Mid-term
adjusted AFR .95% .95% .95% .95%
Long-term
adjusted AFR 2.83% 2.81% 2.80% 2.79%
REV. RUL. 2012-31 TABLE 3
Rates Under Section 382 for December 2012
Adjusted federal long-term rate for the current month 2.83%
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.) 2.87%
REV. RUL. 2012-31 TABLE 4
Appropriate Percentages Under Section 42(b)(1) for December 2012
Note: 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%.
Appropriate percentage for the 70% present value low-income
housing credit 7.38%
Appropriate percentage for the 30% present value low-income
housing credit 3.16%
REV. RUL. 2012-31 TABLE 5
Rate Under Section 7520 for December 2012
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 1.2%
REV. RUL. 2012-31 TABLE 6
Rates Under Sections 846 and 807
Applicable rate of interest for 2013 for purposes of sections 846
and 807 2.16%
Back to Top
Thank you for subscribing to IRS GuideWire, an IRS e-mail service. If you are a Tax Professional and have a specific concern about your tax situation, call the IRS Practitioner Priority Service 1-866-860-4259.
This message was distributed automatically from the IRS GuideWire mailing list. Please Do Not Reply To This Message.
|
