NEW APPLICABLE FEDERAL RATES RELEASED FOR AUGUST BY IRS

Jobe Dupre’, CPA

Each month, the IRS provides various prescribed rates for federal income tax purposes. These rates, known as Applicable Federal Rates (AFRs), are regularly published as revenue rulings.

The AFRs for August 2015 are as follows:

Annual Semi-Annual Quarterly Monthly
Short-Term: 1-3 years 0.48% 0.48% 0.48% 0.48%
Mid-Term: >3 & up to 9 years 1.77% 1.76% 1.76% 1.75%
Long-Term: >9 years 2.74% 2.72% 2.71% 2.70%

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