Rev. Rul. 2014-26 - Rev. Rul. 2014–26
Rev. Rul. 2014–26
This revenue ruling provides various prescribed rates for federal income tax purposes for October 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. 2014–26 TABLE 1 | ||||
|---|---|---|---|---|
| Applicable Federal Rates (AFR) for October 2014 | ||||
| --- | --- | --- | --- | --- |
| Period for Compounding | ||||
| --- | --- | --- | --- | --- |
| Annual | Semiannual | Quarterly | Monthly | |
| --- | --- | --- | --- | --- |
| Short-term | ||||
| AFR | .38% | .38% | .38% | .38% |
| 110% AFR | .42% | .42% | .42% | .42% |
| 120% AFR | .46% | .46% | .46% | .46% |
| 130% AFR | .49% | .49% | .49% | .49% |
| Mid-term | ||||
| AFR | 1.85% | 1.84% | 1.84% | 1.83% |
| 110% AFR | 2.03% | 2.02% | 2.01% | 2.01% |
| 120% AFR | 2.22% | 2.21% | 2.20% | 2.20% |
| 130% AFR | 2.40% | 2.39% | 2.38% | 2.38% |
| 150% AFR | 2.78% | 2.76% | 2.75% | 2.74% |
| 175% AFR | 3.25% | 3.22% | 3.21% | 3.20% |
| Long-term | ||||
| AFR | 2.89% | 2.87% | 2.86% | 2.85% |
| 110% AFR | 3.18% | 3.16% | 3.15% | 3.1% |
| 120% AFR | 3.47% | 3.44% | 3.43% | 3.42% |
| 130% AFR | 3.76% | 3.73% | 3.71% | 3.70% |
| REV. RUL. 2014–26 TABLE 2 | ||||
|---|---|---|---|---|
| Adjusted AFR for October 2014 | ||||
| --- | --- | --- | --- | --- |
| Period for Compounding | ||||
| --- | --- | --- | --- | --- |
| Annual | Semiannual | Quarterly | Monthly | |
| --- | --- | --- | --- | --- |
| Short-term adjusted AFR | .38% | .38% | .38% | .38% |
| Mid-term adjusted AFR | 1.27% | 1.27% | 1.27% | 1.27% |
| Long-term adjusted AFR | 2.77% | 2.75% | 2.74% | 2.73% |
| REV. RUL. 2014–26 TABLE 3 | |
|---|---|
| Rates Under Section 382 for October 2014 | |
| --- | --- |
| Adjusted federal long-term rate for the current month | 2.77% |
| 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.) | 3.05% |
| REV. RUL. 2014–26 TABLE 4 | |
|---|---|
| Appropriate Percentages Under Section 42(b)(1) for October 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 | 7.54% |
| Appropriate percentage for the 30% present value loW–income housing credit | 3.23% |
| REV. RUL. 2014–26 TABLE 5 | |
|---|---|
| Rate Under Section 7520 for October 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 | 2.2% |