rr-99-48.pdf

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# 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. 99-48

This revenue ruling provides various prescribed rates for
federal income tax purposes for December 1999 (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. 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. Finally, Table 6 contains the 2000
interest rate for purposes of sections 846 and 807.

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REV. RUL. 99-48 TABLE 1 Applicable Federal Rates (AFR) for December 1999 Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-Term

AFR

5.74%

5.66%

5.62%

5.59%

110% AFR

6.33%

6.23%

6.18%

6.15%

120% AFR

6.91%

6.79%

6.73%

6.70%

130% AFR

7.50%

7.36%

7.29%

7.25%

Mid-Term

AFR

6.20%

6.11%

6.06%

6.03%

110% AFR

6.83%

6.72%

6.66%

6.63%

120% AFR

7.46%

7.33%

7.26%

7.22%

130% AFR

8.10%

7.94%

7.86%

7.81%

150% AFR

9.38%

9.17%

9.07%

9.00%

175% AFR

10.98%

10.69%

10.55%

10.46%

Long-Term

AFR

6.47%

6.37%

6.32%

6.29%

110% AFR

7.13%

7.01%

6.95%

6.91%

120% AFR

7.79%

7.64%

7.57%

7.52%

130% AFR

8.45%

8.28%

8.20%

8.14%

REV. RUL. 99-48 TABLE 2 Adjusted AFR for December 1999 Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-term adjusted AFR

4.02%

3.98%

3.96%

3.95%

Mid-term adjusted AFR

4.76%

4.70%

4.67%

4.65%

Long-term adjusted AFR

5.72%

5.64%

5.60%

5.57%

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Rates Under Section 382 for December 1999

Adjusted federal long-term rate for the current month
5.72%

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. )

5.72%

# REV. RUL. 99-48 TABLE 4

Appropriate Percentages Under Section 42 (b) (2)
for December 1999

Appropriate percentage for the 70% present
value low-income housing credit
8.49%

Appropriate percentage for the 30% present
value low-income housing credit
3.64%

## REV. RUL. 99-48 TABLE 5

Rate Under Section 7520 for December 1999

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
7.4%

## REV. RUL. 99-48 TABLE 6

Rate under Sections 846 and 807

Applicable rate of interest for 2000 for purposes of
sections 846 and 807
6.09%