IRS Revenue Ruling Provides Prescribed Rates for Federal Income Tax Purposes
The IRS recently issued Revenue Ruling 2019-07 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 § 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 2019-07 will be in IRB: 2019-10, dated March 4, 2019.
For the full Revenue Ruling 2019-07 visit the IRS website.