IRS Sets Applicable, Adjusted Federal Interest Rates for July

The applicable federal interest rates and adjusted applicable federal rates applying to debt instruments for property were reduced for July, the Internal Revenue Service announced in Revenue Ruling 2014-20.

The revenue ruling, released June 19, set the short-term annual applicable federal rate at 0.31 percent, the midterm annual applicable federal rate at 1.82 percent and the long-term rate at 3.06 percent.

The notice updated the June short-term rate from 0.32 percent, midterm rate of 1.91 percent, and the long-term rate of 3.14 percent set in Rev. Rul. 2014-16 98 DTR G-1, 5/21/14.

As for the annual adjusted ...