Rev. Rul. 2009-5
From TaxAlmanac
You Are Here: Main Page > Tax Research Resources > Revenue Rulings > Rev. Rul. 2009-5
Internal Revenue Bulletin:
2009-6
February 9, 2009
Rev. Rul. 2009-5
Federal rates; adjusted federal rates; adjusted federal long-term rate and the long-term exempt rate. For purposes of sections 382, 642, 1274, 1288, and other sections of the Code, tables set forth the rates for February 2009.
This revenue ruling provides various prescribed rates for federal income tax purposes for February 2009 (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, and before December 31, 2013, 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. 2009-5
TABLE 1 | ||||||||
|---|---|---|---|---|---|---|---|---|
| Applicable Federal
Rates (AFR) for February 2009 | ||||||||
| Period
for Compounding | ||||||||
| Annual | Semiannual | Quarterly | Monthly | |||||
| Short-term | ||||||||
| AFR | .60% | .60% | .60% | .60% | ||||
| 110% AFR | .66% | .66% | .66% | .66% | ||||
| 120% AFR | .72% | .72% | .72% | .72% | ||||
| 130% AFR | .78% | .78% | .78% | .78% | ||||
| Mid-term | ||||||||
| AFR | 1.65% | 1.64% | 1.64% | 1.63% | ||||
| 110% AFR | 1.81% | 1.80% | 1.80% | 1.79% | ||||
| 120% AFR | 1.98% | 1.97% | 1.97% | 1.96% | ||||
| 130% AFR | 2.14% | 2.13% | 2.12% | 2.12% | ||||
| 150% AFR | 2.48% | 2.46% | 2.45% | 2.45% | ||||
| 175% AFR | 2.89% | 2.87% | 2.86% | 2.85% | ||||
| Long-term | ||||||||
| AFR | 2.96% | 2.94% | 2.93% | 2.92% | ||||
| 110% AFR | 3.26% | 3.23% | 3.22% | 3.21% | ||||
| 120% AFR | 3.56% | 3.53% | 3.51% | 3.50% | ||||
| 130% AFR | 3.86% | 3.82% | 3.80% | 3.79% | ||||
| REV. RUL. 2009-5
TABLE 2 | ||||||||
|---|---|---|---|---|---|---|---|---|
| Adjusted AFR for
February 2009 | ||||||||
| Period
for Compounding | ||||||||
| Annual | Semiannual | Quarterly | Monthly | |||||
| Short-term adjusted AFR | 1.50% | 1.49% | 1.49% | 1.49% | ||||
| Mid-term adjusted AFR | 2.83% | 2.81% | 2.80% | 2.79% | ||||
| Long-term adjusted AFR | 5.27% | 5.20% | 5.17% | 5.14% | ||||
| REV. RUL. 2009-5
TABLE 3 | |
|---|---|
| Rates Under Section
382 for February 2009 | |
| Adjusted federal long-term rate for the current month | 5.27% |
| 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.) | 5.49% |
| REV. RUL. 2009-5
TABLE 4 | |
|---|---|
| Appropriate Percentages
Under Section 42(b)(1) for February 2009 | |
| Note:
Under Section 42(b)(2), the applicable percentage for non-federally subsidized new buildings placed in service after July 30, 2008, and before December 31, 2013, shall not be less than 9%. | |
| Appropriate percentage for the 70% present value low-income
housing credit | 7.53% |
| Appropriate percentage for the 30% present value low-income
housing credit | 3.23% |
| REV. RUL. 2009-5
TABLE 5 | |
|---|---|
| Rate Under Section
7520 for February 2009 | |
| 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 | 2.0% |
