Rev. Rul. 2014-6
Revenue Ruling
Rev. Rul. 2014–6
Table of Contents
This revenue ruling provides various prescribed rates for federal income tax purposes for February 2014 (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, with respect to housing credit dollar amount allocations made before January 1, 2014, shall not be less than 9%. 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 of a reversionary interest for purposes of section 7520.
| REV. RUL. 2014–6 TABLE 1 | ||||
|---|---|---|---|---|
| Applicable Federal Rates (AFR) for February 2014 | ||||
| Period for Compounding | ||||
| Annual | Semiannual | Quarterly | Monthly | |
| Short-term | ||||
| AFR | .30% | .30% | .30% | .30% |
| 110% AFR | .33% | .33% | .33% | .33% |
| 120% AFR | .36% | .36% | .36% | .36% |
| 130% AFR | .39% | .39% | .39% | .39% |
| Mid-term | ||||
| AFR | 1.97% | 1.96% | 1.96% | 1.95% |
| 110% AFR | 2.17% | 2.16% | 2.15% | 2.15% |
| 120% AFR | 2.36% | 2.35% | 2.34% | 2.34% |
| 130% AFR | 2.57% | 2.55% | 2.54% | 2.54% |
| 150% AFR | 2.96% | 2.94% | 2.93% | 2.92% |
| 175% AFR | 3.46% | 3.43% | 3.42% | 3.41% |
| Long-term | ||||
| AFR | 3.56% | 3.53% | 3.51% | 3.50% |
| 110% AFR | 3.92% | 3.88% | 3.86% | 3.85% |
| 120% AFR | 4.28% | 4.24% | 4.22% | 4.20% |
| 130% AFR | 4.64% | 4.59% | 4.56% | 4.55% |
| REV. RUL. 2014–6 TABLE 2 | ||||
|---|---|---|---|---|
| Adjusted AFR for February 2014 | ||||
| Period for Compounding | ||||
| Annual | Semiannual | Quarterly | Monthly | |
| Short-term adjusted AFR | .30% | .30% | .30% | .30% |
| Mid-term adjusted AFR | 1.56% | 1.55% | 1.55% | 1.55% |
| Long-term adjusted AFR | 3.56% | 3.53% | 3.51% | 3.50% |
| REV. RUL. 2014–6 TABLE 3 | |
|---|---|
| Rates Under Section 382 for February 2014 | |
| Adjusted federal long-term rate for the current month | 3.56% |
| 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.) | 3.56% |
| REV. RUL. 2014–6 TABLE 4 | |
|---|---|
| Appropriate Percentages Under Section 42(b)(1) for February 2014 | |
| Note: Under section 42(b)(2), the applicable percentage for non-federally subsidized new buildings placed in service after July 30, 2008, with respect to housing credit dollar amount allocations made before January 1, 2014, shall not be less than 9%. | |
| Appropriate percentage for the 70% present value low-income housing credit | 7.64% |
| Appropriate percentage for the 30% present value low-income housing credit | 3.27% |
| REV. RUL. 2014–6 TABLE 5 | |
|---|---|
| Rate Under Section 7520 for February 2014 | |
| 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 | 2.4% |