IRS Revenue Ruling Provides Prescribed Rates for Federal Income Tax Purposes
The IRS recently issued Revenue Ruling 2019-08 that provides various prescribed rates for federal income tax purposes including the applicable federal interest rates, the adjusted applicable federal interest rates, the adjusted federal long-term rate, and the adjusted federal long-term tax-exempt rate. These rates are determined as prescribed by ยง 1274.
The rates are published monthly for purposes of sections 42, 382, 412, 642, 1288, 1274, 7520, 7872, and various other sections of the Internal Revenue Code.
Revenue Ruling 2019-08 will be in IRB: 2019-14, dated April 1, 2019.
For the full Revenue Ruling 2019-08 visit the IRS website.