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December 2001
Applicable Federal Rates

Rev. Rul. 2001-58

This revenue ruling provides various prescribed rates for federal income tax purposes for December 2001 (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. 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 2001 interest rate for purposes of sections 846 and 807.

 

TABLE 1
Applicable Federal Rates

Period for Compounding
Annual
Semiannual
Quarterly
Monthly
 
Short-Term AFR
2.48%
2.46%
2.45%
2.45%
110% AFR
2.73%
2.71%
2.70%
2.69%
120% AFR
2.97%
2.95%
2.94%
2.93%
130% AFR 
3.23%
3.20%
3.19%
3.18%
 
Mid-Term AFR
3.97%
3.93%
3.91%
3.90%
110% AFR
4.37%
4.32%
4.30%
4.28%
120% AFR 
4.78%
4.72%
4.69%
4.67%
130% AFR 
5.18%
5.11%
5.08%
5.06%
150% AFR 
5.99%
5.90%
5.86%
5.83%
175% AFR 
7.00%
6.88%
6.82%
6.78%
 
Long-Term AFR
5.05%
4.99%
4.96%
4.94%
110% AFR
5.57%
5.49%
5.45%
5.43%
120% AFR 
6.08%
5.99%
5.95%
5.92%
130% AFR 
6.60%
6.49%
6.44%
6.40%

TABLE 2
Adjusted AFR

Period for Compounding
Annual
Semiannual
Quarterly
Monthly
 
Short-Term adjusted AFR
2.30%
2.29%
2.28%
2.28%
Mid-Term adjusted AFR
3.27%
3.24%
3.23%
3.22%
Long-Term adjusted AFR
4.65%
4.60%
4.57%
4.56%

TABLE 3
Rates Under Section 382

Adjusted federal long-term rate for the current month
4.65%
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.)
4.74%

TABLE 4
Appropriate Percentages Under Section 42(b)(2)

Appropriate percentage for the 70% present value low-income housing credit 
8.05%
Appropriate percentage for the 30% present value low-income housing credit
3.45%

TABLE 5
Rate Under Section 7520

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.
4.8%

REV. RUL. 2001-58
Rate under Section 846 and 807

Applicable rate of interest for 2002 for purposes of sections 846 and 807.
5.71%

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