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% |