Part III Administrative, Procedural, and Miscellaneous
Part I
Section 1274.--Determination of Issue Price in the Case of Certain Debt Instruments Issued for Property
(Also Sections 42, 280G, 382, 412, 467, 468, 482, 483, 642, 807, 846, 1288, 7520, 7872.)
Rev. Rul. 99-48
This revenue ruling provides various prescribed rates for federal income tax purposes for December 1999 (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 2000 interest rate for purposes of sections 846 and 807.
REV. RUL. 99-48 TABLE 1
Applicable Federal Rates (AFR) for December 1999
Period for Compounding -
| |
Annual |
Semiannual |
Quarterly |
Monthly |
| Short-Term |
| 100% AFR |
5.74% |
5.66% |
5.62% |
5.59% |
| 110% AFR |
6.33% |
6.23% |
6.18% |
6.15% |
| 120% AFR |
6.91% |
6.79% |
6.73% |
6.70% |
| 130%AFR |
7.50% |
7.36% |
7.29% |
7.25% |
| Mid-Term |
| 100%AFR |
6.20% |
6.11% |
6.06% |
6.03% |
| 110%AFR |
6.83% |
6.72% |
6.66% |
6.63% |
| 120%AFR |
7.46% |
7.33% |
7.26% |
7.22% |
| 130%AFR |
8.10% |
7.94% |
7.86% |
7.81% |
| 150%AFR |
9.38% |
9.17% |
9.07% |
9.00% |
| 175%AFR |
10.98% |
10.69% |
10.55% |
10.46% |
| Long-Term |
| 100%AFR |
6.47% |
6.37% |
6.32% |
6.29% |
| 110%AFR |
7.13% |
7.01% |
6.95% |
6.91% |
| 120%AFR |
7.79% |
7.64% |
7.57% |
7.52% |
| 130%AFR |
8.45% |
8.28% |
8.20% |
8.14% |
REV. RUL. 99-48 TABLE 2
Adjusted AFR for December 1999
Period for Compounding
| |
Annual |
Semiannual |
Quarterly |
Monthly |
| Short-term adjusted AFR |
5.74% |
5.66% |
5.62% |
5.59% |
| Mid-term adjusted AFR |
6.20% |
6.11% |
6.06% |
6.03% |
| Long-term adjusted AFR |
6.47% |
6.37% |
6.32% |
6.29% |
REV. RUL. 99-48 TABLE 3
Rates Under Section 382 for December 1999
Adjusted federal long-term rate for the current month 5.72%
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.) 5.72%
REV. RUL. 99-48 TABLE 4
Appropriate Percentages Under Section 42(b)(2) for December 1999
Appropriate percentage for the 70% present value low-income housing credit 8.49% Appropriate percentage for the 30% present value low-income housing credit 3.64%
REV. RUL. 99-48 TABLE 5
Rate Under Section 7520 for December 1999
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 7.4%
REV. RUL. 99-48 TABLE 6
Rate under Sections 846 and 807
Applicable rate of interest for 2000 for purposes of sections 846 and 807 6.09%
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