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

Description:

This revenue ruling provides various prescribed rates for federal income tax purposes for June 2010 (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)(1) for buildings placed in service during the...