rr-08-09.pdf

Preserve advance releases and the authoritative Internal Revenue Bulletin rendition; directory timestamps are file-publication metadata, not legal effective dates. HTML bulletins begin June 2003; earlier available issues require full PDF parsing.

This collection currently includes the publisher’s available advance-release directory. Historical bulletin renditions are discovered separately; an advance-release record alone does not certify the collection archive complete.

<!-- PageHeader="Part I" -->

# 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. 2008-9

This revenue ruling provides various prescribed rates for federal
income tax purposes for February 2008 (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.

<!-- PageBreak -->

# REV. RUL. 2008-9 TABLE 1 Applicable Federal Rates (AFR) for February 2008

Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-term

AFR

3.11%

3.09%

3.08%

3.07%

110% AFR

3.43%

3.40%

3.39%

3.38%

120% AFR

3.74%

3.71%

3.69%

3.68%

130% AFR

4.06%

4.02%

4.00%

3.99%

Mid-term

AFR

3.51%

3.48%

3.46%

3.46%

110% AFR

3.87%

3.83%

3.81%

3.80%

120% AFR

4.22%

4.18%

4.16%

4.14%

130% AFR

4.57%

4.52%

4.49%

4.48%

150% AFR

5.29%

5.22%

5.19%

5.16%

175% AFR

6.18%

6.09%

6.04%

6.01%

Long-term

AFR

4.46%

4.41%

4.39%

4.37%

110% AFR

4.91%

4.85%

4.82%

4.80%

120% AFR

5.36%

5.29%

5.26%

5.23%

130% AFR

5.81%

5.73%

5.69%

5.66%

<!-- PageBreak -->

REV. RUL. 2008-9 TABLE 2 Adjusted AFR for February 2008

Period for Compounding

Monthly

Annual

Semiannual

Quarterly

Short-term adjusted AFR

2.84%

2.82%

2.81%

2.80%

Mid-term adjusted AFR

3.36%

3.33%

3.32%

3.31%

Long-term adjusted AFR

4.23%

4.19%

4.17%

4.15%

REV. RUL. 2008-9 TABLE 3
Rates Under Section 382 for February 2008

Adjusted federal long-term rate for the current month
4.23%

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.)
4.34%

## REV. RUL. 2008-9 TABLE 4

Appropriate Percentages Under Section 42(b)(2) for February 2008

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

7.92%

Appropriate percentage for the 30% present value low-income

housing credit

3.40%

<!-- PageBreak -->

# REV. RUL. 2008-9 TABLE 5 Rate Under Section 7520 for February 2008

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
4.2%