IRS Rev. Rul.: Applicable Federal Rates for July 2024 (IRC §1274)

Various prescribed rates for federal income tax purposes for July, including the applicable federal interest rates, the adjusted AFRs, the adjusted federal long-term rate, and the adjusted federal long-term tax-exempt rate, the IRS released. The rates are published monthly for purposes of I.R.C. §42, §382, §412, §642, §1288, §1274, §7520, §7872, and various other sections of the Code. Table 1 contains the short-term, mid-term, and long-term AFR for purposes of §1274(d). Table 2 contains the short-term, mid-term, and long-term adjusted AFR for purposes of §1288(b). Table 3 sets forth the adjusted federal long-term rate and the long-term tax-exempt rate described ...