Software Solutions for Financial and Tax Professionals
Site Guide
HomeProductsOrder & Download
Replacement FilesRegister SoftwareTechnical SupportWhat's New
Contact Us
(800) 426 - 4741

We've moved!

TimeValue Software
22 Mauchly
Irvine, CA 92618
(949) 727 - 1800
FAX (949) 727 - 3268

info@timevalue.com

August 2006
Applicable Federal Rates

Rev. Rul. 2006-39

Applicable Federal Rates for August

This revenue ruling provides various prescribed rates for federal income tax purposes for August 2006 (the current month). Table 1 contains the short-term, midterm, 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
August 2006
 

Period for Compounding

Applicable Federal Rate (AFR)

Annual

Semi-annual

Quarterly

Monthly

Short-Term

        

AFR

5.26%

5.19%

5.16%

5.13%

110% AFR

5.79%

5.71%

5.67%

5.64%

120% AFR

6.33%

6.23%

6.18%

6.15%

130% AFR

6.86%

6.75%

6.69%

6.66%
Mid-Term
        

AFR

5.21%

5.14%

5.11%

5.09%

110% AFR

5.73%

5.65%

5.61%

5.58%

120% AFR

6.27%

6.17%

6.12%

6.09%

130% AFR

6.79%

6.68%

6.63%

6.59%

150% AFR

7.86%

7.71%

7.64%

7.59%

175% AFR

9.20%

9.00%

8.90%

8.84%
Long-Term
        

AFR

5.36%

5.29%

5.26%

5.23%

110% AFR

5.90%

5.82%

5.78%

5.75%

120% AFR

6.45%

6.35%

6.30%

6.27%

130% AFR

7.00%

6.88%

6.82%

6.78%
 
Table II
Adjusted AFR for August 2006
 

Period for Compounding
 

Annual

Semi-annual

Quarterly

Monthly

Short-term adjusted AFR

3.71%

3.68%

3.66%

3.65%

Mid-term adjusted AFR

3.95%

3.91%

3.89%

3.88%

Long-term adjusted AFR

4.52%

4.47%

4.45%

4.43%
 
Table III
Rates Under Section 382 for August 2006

Adjusted federal long-term rate for the current month

4.52%

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.)

4.52%
 
Table IV
Appropriate Percentages Under Section 42(b)(2) for August 2006

Appropriate Percentage for the 70% present value low-income housing credit

8.23%

Appropriate Percentage for the 30% present value low-income housing credit
3.53%
 
Table V
Rate Under Section 7520 for August 2006

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

6.2%

Back to Top

[Printer Friendly Adobe PDF Version]

About Us | Site Map / Search | Privacy Policy