Rev. Rul. 2007-23
Applicable Federal Rates for April
This revenue ruling provides various prescribed rates for federal income tax purposes
for April 2007 (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, midterm,
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 longterm
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
April 2007
|
|
|
Period for Compounding
|
|
Applicable Federal Rate (AFR)
|
Annual
|
Semi-annual
|
Quarterly
|
Monthly
|
|
Short-Term
|
|
|
|
|
|
AFR
|
4.90%
|
4.84%
|
4.81%
|
4.79%
|
|
110% AFR
|
5.39%
|
5.32%
|
5.29%
|
5.26%
|
|
120% AFR
|
5.89%
|
5.81%
|
5.77%
|
5.74%
|
|
130% AFR
|
6.39%
|
6.29%
|
6.24%
|
6.21%
|
|
Mid-Term
|
|
|
|
|
|
AFR
|
4.61%
|
4.56%
|
4.53%
|
4.52%
|
|
110% AFR
|
5.08%
|
5.02%
|
4.99%
|
4.97%
|
|
120% AFR
|
5.54%
|
5.47%
|
5.43%
|
5.41%
|
|
130% AFR
|
6.02%
|
5.93%
|
5.89%
|
5.86%
|
|
150% AFR
|
6.96%
|
6.84%
|
6.78%
|
6.74%
|
|
175% AFR
|
8.14%
|
7.98%
|
7.90%
|
7.85%
|
|
Long-Term
|
|
|
|
|
|
AFR
|
4.81%
|
4.75%
|
4.72%
|
4.70%
|
|
110% AFR
|
5.30%
|
5.23%
|
5.20%
|
5.17%
|
|
120% AFR
|
5.78%
|
5.70%
|
5.66%
|
5.63%
|
|
130% AFR
|
6.28%
|
6.18%
|
6.13%
|
6.10%
|
Table II
Adjusted AFR for April 2007
|
|
|
Period for Compounding
|
|
|
Annual
|
Semi-annual
|
Quarterly
|
Monthly
|
|
Short-term adjusted AFR
|
3.50%
|
3.47%
|
3.46%
|
3.45%
|
|
Mid-term adjusted AFR
|
3.65%
|
3.62%
|
3.60%
|
3.59%
|
|
Long-term adjusted AFR
|
4.04%
|
4.00%
|
3.98%
|
3.97%
|
Table III
Rates Under Section 382 for April 2007
|
|
Adjusted federal long-term rate for the current month
|
4.04%
|
|
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.)
|
4.18%
|
Table IV
Appropriate Percentages Under Section 42(b)(2) for April 2007
|
|
Appropriate Percentage for the 70% present value low-income housing credit
|
8.10%
|
|
Appropriate Percentage for the 30% present value low-income housing credit
|
3.47%
|
Table V
Rate Under Section 7520 for April 2007
|
|
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
|
5.6%
|
|
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