Rev. Rul. 2017-24 - Rev. Rul. 2017–24
Rev. Rul. 2017–24
This revenue ruling provides various prescribed rates for federal income tax purposes for December 2017 (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, 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 2018 interest rate for purposes of sections 846 and 807.
| REV. RUL. 2017–24 TABLE 1 | ||||
|---|---|---|---|---|
| Applicable Federal Rates (AFR) for December 2017 | ||||
| --- | --- | --- | --- | --- |
| Period for Compounding | ||||
| --- | --- | --- | --- | --- |
| Annual | Semiannual | Quarterly | Monthly | |
| Short-term | ||||
| AFR | 1.52% | 1.51% | 1.51% | 1.51% |
| 110% AFR | 1.67% | 1.66% | 1.66% | 1.65% |
| 120% AFR | 1.82% | 1.81% | 1.81% | 1.80% |
| 130% AFR | 1.97% | 1.96% | 1.96% | 1.95% |
| Mid-term | ||||
| AFR | 2.11% | 2.10% | 2.09% | 2.09% |
| 110% AFR | 2.32% | 2.31% | 2.30% | 2.30% |
| 120% AFR | 2.54% | 2.52% | 2.51% | 2.51% |
| 130% AFR | 2.75% | 2.73% | 2.72% | 2.71% |
| 150% AFR | 3.17% | 3.15% | 3.14% | 3.13% |
| 175% AFR | 3.71% | 3.68% | 3.66% | 3.65% |
| Long-term | ||||
| AFR | 2.64% | 2.62% | 2.61% | 2.61% |
| 110% AFR | 2.90% | 2.88% | 2.87% | 2.86% |
| 120% AFR | 3.16% | 3.14% | 3.13% | 3.12% |
| 130% AFR | 3.44% | 3.41% | 3.40% | 3.39% |
| REV. RUL. 2017–24 TABLE 2 | ||||
|---|---|---|---|---|
| Adjusted AFR for December 2017 | ||||
| --- | --- | --- | --- | --- |
| Period for Compounding | ||||
| --- | --- | --- | --- | --- |
| Annual | Semiannual | Quarterly | Monthly | |
| Short-term adjusted AFR | 1.12% | 1.12% | 1.12% | 1.12% |
| Mid-term adjusted AFR | 1.57% | 1.56% | 1.56% | 1.55% |
| Long-term adjusted AFR | 1.96% | 1.95% | 1.95% | 1.94% |
| REV. RUL. 2017–24 TABLE 3 | |
|---|---|
| Rates Under Section 382 for December 2017 | |
| Adjusted federal long-term rate for the current month | 1.96% |
| 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.) | 1.96% |
| \>REV. RUL. 2017–24 TABLE 4 | |
|---|---|
| Appropriate Percentages Under Section 42(b)(1) for December 2017 | |
| Note: Under section 42(b)(2), the applicable percentage for non-federally subsidized new buildings placed in service after July 30, 2008, shall not be less than 9%. | |
| Appropriate percentage for the 70% present value low-income housing credit | 7.55% |
| Appropriate percentage for the 30% present value low-income housing credit | 3.23% |
| REV. RUL. 2017–24 TABLE 5 | |
|---|---|
| Rate Under Section 7520 for December 2017 | |
| 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 | 2.6% |
| REV. RUL. 2017–24 TABLE 6 | |
|---|---|
| Rates Under Sections 846 and 807 | |
| Applicable rate of interest for 2018 for purposes of sections 846 and 807 | 1.66% |