Rev. Rul. 2013-26 - Rev. Rul. 2013–26
Rev. Rul. 2013–26
This revenue ruling provides various prescribed rates for federal income tax purposes for December 2013 (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%. 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 the 2014 interest rate for sections 846 and 807.
| REV. RUL. 2013–26 TABLE 1 | ||||
|---|---|---|---|---|
| Applicable Federal Rates (AFR) for December 2013 | ||||
| --- | --- | --- | --- | --- |
| Period for Compounding | ||||
| --- | --- | --- | --- | --- |
| Annual | Semiannual | Quarterly | Monthly | |
| --- | --- | --- | --- | --- |
| Short-term | ||||
| AFR | .25% | .25% | .25% | .25% |
| 110% AFR | .28% | .28% | .28% | .28% |
| 120% AFR | .30% | .30% | .30% | .30% |
| 130% AFR | .33% | .33% | .33% | .33% |
| Mid-term | ||||
| AFR | 1.65% | 1.64% | 1.64% | 1.63% |
| 110% AFR | 1.81% | 1.80% | 1.80% | 1.79% |
| 120% AFR | 1.98% | 1.97% | 1.97% | 1.96% |
| 130% AFR | 2.14% | 2.13% | 2.12% | 2.12% |
| 150% AFR | 2.48% | 2.46% | 2.45% | 2.45% |
| 175% AFR | 2.89% | 2.87% | 2.86% | 2.85% |
| Long-term | ||||
| AFR | 3.32% | 3.29% | 3.28% | 3.27% |
| 110% AFR | 3.65% | 3.62% | 3.60% | 3.59% |
| 120% AFR | 3.99% | 3.95% | 3.93% | 3.92% |
| 130% AFR | 4.33% | 4.28% | 4.26% | 4.24% |
| REV. RUL. 2013–26 TABLE 2 | ||||
|---|---|---|---|---|
| Adjusted AFR for December 2013 | ||||
| --- | --- | --- | --- | --- |
| Period for Compounding | ||||
| --- | --- | --- | --- | --- |
| Annual | Semiannual | Quarterly | Monthly | |
| --- | --- | --- | --- | --- |
| Short-term adjusted AFR | .25% | .25% | .25% | .25% |
| Mid-term adjusted AFR | 1.57% | 1.56% | 1.56% | 1.55% |
| Long-term adjusted AFR | 3.32% | 3.29% | 3.28% | 3.27% |
| REV. RUL. 2013–26 TABLE 3 | |
|---|---|
| Rates Under Section 382 for December 2013 | |
| --- | --- |
| Adjusted federal long-term rate for the current month | 3.32% |
| 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.) | 3.50% |
| REV. RUL. 2013–26 TABLE 4 | |
|---|---|
| Appropriate Percentages Under Section 42(b)(1) for December 2013 | |
| --- | --- |
| 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 | 7.57% |
| Appropriate percentage for the 30% present value low-income housing credit | 3.25% |
| REV. RUL. 2013–26 TABLE 5 | |
|---|---|
| Rate Under Section 7520 for December 2013 | |
| --- | --- |
| 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 | 2.0% |
| REV. RUL. 2013–26 TABLE 6 | |
|---|---|
| Rates Under Sections 846 and 807 | |
| --- | --- |
| Applicable rate of interest for 2014 for purposes of sections 846 and 807 | 1.79% |