This revenue ruling provides various prescribed rates for federal income tax purposes for December 2023 (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)(1) for buildings placed in service during the current month. However, under section 42(b)(2), the applicable percentage for non-federally subsidized new buildings placed in service after July 30, 2008, shall not be less than 9%. 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.
REV. RUL. 2023-21 TABLE 1 Applicable Federal Rates (AFR) for December 2023 Period for Compounding
| Annual | Semiannual | 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 | 4.82% | 4.76% | 4.73% | 4.71% |
| 110% AFR | 5.31% | 5.24% | 5.21% | 5.18% |
| 120% AFR | 5.79% | 5.71% | 5.67% | 5.64% |
| 130% AFR | 6.29% | 6.19% | 6.14% | 6.11% |
| 150% AFR | 7.27% | 7.14% | 7.08% | 7.04% |
| 175% AFR | 8.50% | 8.33% | 8.25% | 8.19% |
| Long-term | ||||
| AFR | 5.03% | 4.97% | 4.94% | 4.92% |
| 110% AFR | 5.54% | 5.47% | 5.43% | 5.41% |
| 120% AFR | 6.05% | 5.96% | 5.92% | 5.89% |
| 130% AFR | 6.56% | 6.46% | 6.41% | 6.37% |
REV. RUL. 2023-21 TABLE 2 Adjusted AFR for December 2023 Period for Compounding
| Annual | Semiannual | Quarterly | Monthly | |
|---|---|---|---|---|
| Short-term adjusted AFR | 3.98% | 3.94% | 3.92% | 3.91% |
| Mid-term adjusted AFR | 3.64% | 3.61% | 3.59% | 3.58% |
| Long-term adjusted AFR | 3.81% | 3.77% | 3.75% | 3.74% |
REV. RUL. 2023-21 TABLE 3 Rates Under Section 382 for December 2023
| Adjusted federal long-term rate for the current month | 3.81% |
| 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.) | 3.81% |
REV. RUL. 2023-21 TABLE 4 Appropriate Percentages Under Section 42(b)(1) for December 2023
| Note: Under section 42(b)(2), the applicable percentage for non-federally subsidized new buildings placed in service after July 30, 2008, shall not be less than 9%. | |
| Appropriate percentage for the 70% present value low-income housing credit | 8.15% |
| Appropriate percentage for the 30% present value low-income housing credit | 3.49% |
The applicable federal short-term, mid-term, and long-term rates are set forth for the month of December 2023. See Rev. Rul. 2023-21, page 1299.
The applicable federal short-term, mid-term, and long-term rates are set forth for the month of December 2023. See Rev. Rul. 2023-21, page 1299.
The adjusted applicable federal long-term rate is set forth for the month of December 2023. See Rev. Rul. 2023-21, page 1299.
The applicable federal short-term, mid-term, and long-term rates are set forth for the month of December 2023. See Rev. Rul. 2023-21, page 1299.
The applicable federal short-term rates are set forth for the month of December 2023. See Rev. Rul. 2023-21, page 1299.
The applicable federal short-term, mid-term, and long-term rates are set forth for the month of December 2023. See Rev. Rul. 2023-21, page 1299.
The applicable federal short-term, mid-term, and long-term rates are set forth for the month of December 2023. See Rev. Rul. 2023-21, page 1299.
The adjusted applicable federal short-term, mid-term, and long-term rates are set forth for the month of December 2023. See Rev. Rul. 2023-21, page 1299.
The applicable federal mid-term rates are set forth for the month of December 2023. See Rev. Rul. 2023-21, page 1299.
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