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April 2005
Applicable Federal Rates

Rev. Rul. 2005-23

Applicable Federal Rates for April

This revenue ruling provides various prescribed rates for federal income tax purposes for April 2005 (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)(2) for buildings placed in service during the current month. 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.

Table I

Applicable Federal Rate (AFR)

Annual

Semi-annual

Quarterly

Monthly
April 2005
 

Period for Compounding

Short-Term

        

AFR

3.35%

3.32%

3.31%

3.30%

110% AFR

3.68%

3.65%

3.63%

3.62%

120% AFR

4.02%

3.98%

3.96%

3.95%

130% AFR

4.37%

4.32%

4.30%

4.28%
Mid-Term
        

AFR

4.09%

4.05%

4.03%

4.02%

110% AFR

4.51%

4.46%

4.44%

4.42%

120% AFR

4.92%

4.86%

4.83%

4.81%

130% AFR

5.34%

5.27%

5.24%

5.21%

150% AFR

6.17%

6.08%

6.03%

6.00%

175% AFR

7.22%

7.09%

7.03%

6.99%
Long-Term
        

AFR

4.68%

4.63%

4.60%

4.59%

110% AFR

5.15%

5.09%

5.06%

5.04%

120% AFR

5.64%

5.56%

5.52%

5.50%

130% AFR

6.11%

6.02%

5.98%

5.95%
 
Table II

Adjusted AFR for April 2005
 

Period for Compounding
 

Annual

Semi-annual

Quarterly

Monthly

Short-term adjusted AFR

2.40%

2.39%

2.38%

2.38%

Mid-term adjusted AFR

3.03%

3.01%

3.00%

2.99%

Long-term adjusted AFR

4.19%

4.15%

4.13%

4.11%
 
Table III

Rates Under Section 382 for April 2005

Adjusted federal long-term rate for the current month

4.19%

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.)

4.20%
 
Table IV

Appropriate Percentages Under Section 42(b)(2) for April 2005

Appropriate Percentage for the 70% present value low-income housing credit

8.02%

Appropriate Percentage for the 30% present value low-income housing credit

 3.44%
 
Table V

Rate Under Section 7520 for April 2005

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

5.00%

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