Revenue Rulings - Rev. Rul. 2004-25
GiftLaw Note:
This revenue ruling provides various prescribed rates for federal income tax purposes for March 2004 (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. Finally, Table 5 contains the federal rate for determining the present value of 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. 2004-25 TABLE 1
| Period for Compounding | ||||
| Annual | Semiannual | Quarterly | Monthly | |
| Short-Term | ||||
| AFR | 1.58% | 1.57% | 1.57% | 1.56% |
| 110% AFR | 1.74% | 1.73% | 1.73% | 1.72% |
| 120% AFR | 1.89% | 1.88% | 1.88% | 1.87% |
| 130% AFR | 2.05% | 2.04% | 2.03% | 2.03% |
| Mid-Term | ||||
| AFR | 3.34% | 3.31% | 3.30% | 3.29% |
| 110% AFR | 3.67% | 3.64% | 3.62% | 3.61% |
| 120% AFR | 4.01% | 3.97% | 3.95% | 3.94% |
| 130% AFR | 4.35% | 4.30% | 4.28% | 4.26% |
| 150% AFR | 5.03% | 4.97% | 4.94% | 4.92% |
| 175% AFR | 5.87% | 5.79% | 5.75% | 5.72% |
| Long-Term | ||||
| AFR | 4.84% | 4.78% | 4.75% | 4.73% |
| 110% AFR | 5.33% | 5.26% | 5.23% | 5.20% |
| 120% AFR | 5.82% | 5.74% | 5.70% | 5.67% |
| 130% AFR | 6.31% | 6.21% | 6.16% | 6.13% |
REV. RUL. 2004-25 TABLE 2
| Period for Compounding | ||||
| Annual | Semiannual | Quarterly | Monthly | |
| Short-term adjusted AFR | 1.30% | 1.30% | 1.30% | 1.30% |
| Mid-term adjusted AFR | 2.47% | 2.45% | 2.44% | 2.44% |
| Long-term adjusted AFR | 4.19% | 4.15% | 4.13% | 4.11% |
REV. RUL. 2004-25 TABLE 3
| Adjusted federal long-term rate for the current month | 4.19% |
| 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.) | 4.40% |
REV. RUL. 2004-25 TABLE 4
| Appropriate percentage for the 70% present value low-income housing credit | 7.95% |
| Appropriate percentage for the 30% present value low-income housing credit | 3.41% |
REV. RUL. 2004-25 TABLE 5
| 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 | 4.0% |