How to use Applicable Federal Rates?

Discussion in 'Tax' started by Michael S. Rosen, Sep 18, 2003.

  1. What is the significance of the other rate lines in the
    AFRs? I.e. 110%, 120%, etc.

    Thanks,
    Mike

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    Michael S. Rosen, Sep 18, 2003
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  2. (Michael S. Rosen) wrote:

    > What is the significance of the other rate lines in the
    > AFRs? I.e. 110%, 120%, etc.


    I got my answer from the IRS:

    "section 1274 of the internal revenue code applies online
    www.irs.gov 110% is for sale leasebacks. low income housing
    120% and 130% rules apply, all others are at the afr which
    is considered the 100% rule, rarely is an individual
    involved with a rate of 110 or above"

    Mike

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    Michael S. Rosen, Sep 23, 2003
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