Rev. Rul. 2015-8 - Rev. Rul. 2015–8
Rev. Rul. 2015–8
This revenue ruling provides various prescribed rates for federal income tax purposes for May 2015 (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, 2015 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. 2015–8 TABLE 1 | ||||
|---|---|---|---|---|
| Applicable Federal Rates (AFR) for May 2015 | ||||
| --- | --- | --- | --- | --- |
| Period for Compounding | ||||
| --- | --- | --- | --- | --- |
| Annual | Semiannual | Quarterly | Monthly | |
| --- | --- | --- | --- | --- |
| Short-term | ||||
| AFR | .43% | .43% | .43% | .43% |
| 110% AFR | .47% | .47% | .47% | .47% |
| 120% AFR | .52% | .52% | .52% | .52% |
| 130% AFR | .56% | .56% | .56% | .56% |
| Mid-term | ||||
| AFR | 1.53% | 1.52% | 1.52% | 1.52% |
| 110% AFR | 1.68% | 1.67% | 1.67% | 1.66% |
| 120% AFR | 1.83% | 1.82% | 1.82% | 1.81% |
| 130% AFR | 1.99% | 1.98% | 1.98% | 1.97% |
| 150% AFR | 2.29% | 2.28% | 2.27% | 2.27% |
| 175% AFR | 2.68% | 2.66% | 2.65% | 2.65% |
| Long-term | ||||
| AFR | 2.30% | 2.29% | 2.28% | 2.28% |
| 110% AFR | 2.54% | 2.52% | 2.51% | 2.51% |
| 120% AFR | 2.77% | 2.75% | 2.74% | 2.73% |
| 130% AFR | 3.00% | 2.98% | 2.97% | 2.96% |
| REV. RUL. 2015–8 TABLE 2 | ||||
|---|---|---|---|---|
| Adjusted AFR for May 2015 | ||||
| --- | --- | --- | --- | --- |
| Period for Compounding | ||||
| --- | --- | --- | --- | --- |
| Annual | Semiannual | Quarterly | Monthly | |
| --- | --- | --- | --- | --- |
| Short-term adjusted AFR | .43% | .43% | .43% | .43% |
| Mid-term adjusted AFR | 1.43% | 1.42% | 1.42% | 1.42% |
| Long-term adjusted AFR | 2.30% | 2.29% | 2.28% | 2.28% |
| REV. RUL. 2015–8 TABLE 3 | |
|---|---|
| Rates Under Section 382 for May 2015 | |
| --- | --- |
| Adjusted federal long-term rate for the current month | 2.30% |
| 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.) | 2.47% |
| REV. RUL. 2015–8 TABLE 4 | |
|---|---|
| Appropriate Percentages Under Section 42(b)(1) for May 2015 | |
| --- | --- |
| 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, 2015, shall not be less than 9%. | |
| Appropriate percentage for the 70% present value loW–income housing credit | 7.44% |
| Appropriate percentage for the 30% present value loW–income housing credit | 3.19% |
| REV. RUL. 2015–8 TABLE 5 | |
|---|---|
| Rate Under Section 7520 for May 2015 | |
| --- | --- |
| 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 | 1.8% |