IRS Sets Applicable Federal Interest Rates for January 2017

The IRS announced the applicable federal interest rates and adjusted federal rates for January.

In Revenue Ruling 2017-2, released Dec. 19, the Internal Revenue Service said the annual short-term applicable federal rate is 0.96 percent, the annual mid-term rate is 1.97 percent and the long-term AFR is 2.75 percent. The annual short-term adjusted AFR rate is 0.71 percent, the mid-term adjusted AFR is 1.47 percent and the long-term adjusted AFR is 2.04 percent.

The revenue ruling also provides the rates for determining the present value of annuities, ...