Rev. Rul. 2024-4, 2024-10 I.R.B. 686

This revenue ruling provides various prescribed rates for federal income tax purposes for March 2024 (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. 2024-04 TABLE 1 Applicable Federal Rates (AFR) for March 2024 Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-term

AFR

4.71%

4.66%

4.63%

4.62%

110% AFR

5.20%

5.13%

5.10%

5.08%

120% AFR

5.67%

5.59%

5.55%

5.53%

130% AFR

6.15%

6.06%

6.01%

5.98%

Mid-term

AFR

4.13%

4.09%

4.07%

4.06%

110% AFR

4.55%

4.50%

4.47%

4.46%

120% AFR

4.97%

4.91%

4.88%

4.86%

130% AFR

5.39%

5.32%

5.29%

5.26%

150% AFR

6.23%

6.14%

6.09%

6.06%

175% AFR

7.29%

7.16%

7.10%

7.06%

Long-term

AFR

4.40%

4.35%

4.33%

4.31%

110% AFR

4.85%

4.79%

4.76%

4.74%

120% AFR

5.29%

5.22%

5.19%

5.16%

130% AFR

5.74%

5.66%

5.62%

5.59%

REV. RUL. 2024-04 TABLE 2 Adjusted AFR for March 2024 Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-term adjusted AFR

3.57%

3.54%

3.52%

3.51%

Mid-term adjusted AFR

3.13%

3.11%

3.10%

3.09%

Long-term adjusted AFR

3.33%

3.30%

3.29%

3.28%

REV. RUL. 2024-04 TABLE 3 Rates Under Section 382 for March 2024

Adjusted federal long-term rate for the current month

3.33%

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.)

3.44%

REV. RUL. 2024-04 TABLE 4 Appropriate Percentages Under Section 42(b)(1) for March 2024

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

7.99%

Appropriate percentage for the 30% present value low-income housing credit

3.42%

REV. RUL. 2024-04 TABLE 5 Rate Under Section 7520 for March 2024

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

5.00%

Section 42.—Low-Income Housing Credit

The applicable federal short-term, mid-term, and long-term rates are set forth for the month of March 2024. See Rev. Rul. 2024-04, page 686.

Section 280G.—Golden Parachute Payments

The applicable federal short-term, mid-term, and long-term rates are set forth for the month of March 2024. See Rev. Rul. 2024-04, page 686.

Section 382.—Limitation on Net Operating Loss Carryforwards and Certain Built-In Losses Following Ownership Change

The adjusted applicable federal long-term rate is set forth for the month of March 2024. See Rev. Rul. 2024-04, page 686.

Section 467.—Certain Payments for the Use of Property or Services

The applicable federal short-term, mid-term, and long-term rates are set forth for the month of March 2024. See Rev. Rul. 2024-04, page 686.

Section 468.—Special Rules for Mining and Solid Waste Reclamation and Closing Costs

The applicable federal short-term rates are set forth for the month of March 2024. See Rev. Rul. 2024-04, page 686.

Section 482.—Allocation of Income and Deductions Among Taxpayers

The applicable federal short-term, mid-term, and long-term rates are set forth for the month of March 2024. See Rev. Rul. 2024-04, page 686.

Section 483.—Interest on Certain Deferred Payments

The applicable federal short-term, mid-term, and long-term rates are set forth for the month of March 2024. See Rev. Rul. 2024-04, page 686.

Section 1288.—Treatment of Original Issue Discount on Tax-Exempt Obligations

The adjusted applicable federal short-term, mid-term, and long-term rates are set forth for the month of March 2024. See Rev. Rul. 2024-04, page 686.

Section 7520.—Valuation Tables

The applicable federal mid-term rates are set forth for the month of March 2024. See Rev. Rul. 2024-04, page 686.

Section 7872.—Treatment of Loans With Below-Market Interest Rates

The applicable federal short-term, mid-term, and long-term rates are set forth for the month of March 2024. See Rev. Rul. 2024-04, page 686.