rr-07-15.pdf

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# Section 1274 .-- Determination of Issue Price in the Case of Certain Debt Instruments Issued for Property

(Also Sections 42, 280G, 382, 412, 467, 468, 482, 483, 642, 807, 846, 1288, 7520,
7872.)

## Rev. Rul. 2007-15

This revenue ruling provides various prescribed rates for federal income tax
purposes for March 2007 (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 an annuity,
an interest for life or for a term of years, or a remainder or a reversionary interest for
purposes of section 7520.

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# REV. RUL. 2007-15 TABLE 1 Applicable Federal Rates (AFR) for March 2007

Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-term

AFR

5.06%

5.00%

4.97%

4.95%

110% AFR

5.58%

5.50%

5.46%

5.44%

120% AFR

6.09%

6.00%

5.96%

5.93%

130% AFR

6.61%

6.50%

6.45%

6.41%

Mid-term

AFR

4.86%

4.80%

4.77%

4.75%

110% AFR

5.35%

5.28%

5.25%

5.22%

120% AFR

5.84%

5.76%

5.72%

5.69%

130% AFR

6.34%

6.24%

6.19%

6.16%

150% AFR

7.33%

7.20%

7.14%

7.09%

175% AFR

8.58%

8.40%

8.31%

8.26%

Long-term

AFR

5.01%

4.95%

4.92%

4.90%

110% AFR

5.52%

5.45%

5.41%

5.39%

120% AFR

6.03%

5.94%

5.90%

5.87%

130% AFR

6.54%

6.44%

6.39%

6.36%

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REV. RUL. 2007-15 TABLE 2 Adjusted AFR for March 2007

Period for Compounding Annual Semiannual Quarterly Monthly

Short-term adjusted AFR

3.58%

3.55%

3.53%

3.52%

Mid-term adjusted AFR

3.71%

3.68%

3.66%

3.65%

Long-term adjusted AFR

4.18%

4.14%

4.12%

4.10%

REV. RUL. 2007-15 TABLE 3
Rates Under Section 382 for March 2007

Adjusted federal long-term rate for the current month
4.18%

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.)
4.18%

# REV. RUL. 2007-15 TABLE 4

Appropriate Percentages Under Section 42(b)(2) for March 2007

Appropriate percentage for the 70% present value low-income housing credit

8.15%

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

3.49%

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# REV. RUL. 2007-15 TABLE 5 Rate Under Section 7520 for March 2007

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
5.8%