Rev. Rul. 2014-13
Revenue Ruling
Rev. Rul. 2014–13
Table of Contents
This revenue ruling provides various prescribed rates for federal income tax purposes for May 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 or a reversionary interest for purposes of section 7520.
| REV. RUL. 2014–13 TABLE 1 | ||||
|---|---|---|---|---|
| Applicable Federal Rates (AFR) for May 2014 | ||||
| Period for Compounding | ||||
| Annual | Semiannual | Quarterly | Monthly | |
| Short-term | ||||
| AFR | .33% | .33% | .33% | .33% |
| 110% AFR | .36% | .36% | .36% | .36% |
| 120% AFR | .40% | .40% | .40% | .40% |
| 130% AFR | .43% | .43% | .43% | .43% |
| Mid-term | ||||
| AFR | 1.93% | 1.92% | 1.92% | 1.91% |
| 110% AFR | 2.12% | 2.11% | 2.10% | 2.10% |
| 120% AFR | 2.31% | 2.30% | 2.29% | 2.29% |
| 130% AFR | 2.52% | 2.50% | 2.49% | 2.49% |
| 150% AFR | 2.90% | 2.88% | 2.87% | 2.86% |
| 175% AFR | 3.39% | 3.36% | 3.35% | 3.34% |
| Long-term | ||||
| AFR | 3.27% | 3.24% | 3.23% | 3.22% |
| 110% AFR | 3.59% | 3.56% | 3.54% | 3.53% |
| 120% AFR | 3.93% | 3.89% | 3.87% | 3.86% |
| 130% AFR | 4.25% | 4.21% | 4.19% | 4.17% |
| REV. RUL. 2014–13 TABLE 2 | ||||
|---|---|---|---|---|
| Adjusted AFR for May 2014 | ||||
| Period for Compounding | ||||
| Annual | Semiannual | Quarterly | Monthly | |
| Short-term adjusted AFR | .33% | .33% | .33% | .33% |
| Mid-term adjusted AFR | 1.41% | 1.41% | 1.41% | 1.41% |
| Long-term adjusted AFR | 3.27% | 3.24% | 3.23% | 3.22% |
| REV. RUL. 2014–13 TABLE 3 | |
|---|---|
| Rates Under Section 382 for May 2014 | |
| Adjusted federal long-term rate for the current month | 3.27% |
| 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.) | 3.36% |
| REV. RUL. 2014–13 TABLE 4 | |
|---|---|
| Appropriate Percentages Under Section 42(b)(1) for May 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 | 7.60% |
| Appropriate percentage for the 30% present value low-income housing credit | 3.26% |
| REV. RUL. 2014–13 TABLE 5 | |
|---|---|
| Rate Under Section 7520 for May 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% |