IRS Revenue Ruling
1999-25

 Code Secs. 1274, 42, 280G, 282, 412, 467 ....

<<FULL TEXT>>

(Also sections 42, 280G, 282, 412, 467, 468, 482, 483, 642, 807, 846,
1288, 7520, 7872.)


REV. RUL. 99-25

FEDERAL RATES; ADJUSTED FEDERAL RATES; ADJUSTED FEDERAL LONG-TERM RATE,
AND THE LONG-TERM EXEMPT RATE. For purposes of sections 1274, 1288, 282,
and other sections of the Code, tables set forth the rates for June 1999.

this revenue ruling provides various prescribed rates for federal
income tax purposes for June 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 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
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.
Finally, 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.


REV RUL. 99-25 TABLE 1

Applicable Federal Rates (AFR) for June 1999

Period for Compounding
-------------------------------------------
Annual Semiannual Quarterly Monthly
------ ---------- --------- -------
Short-Term
AFR 4.98% 4.92% 4.89% 4.87%
110% AFR 5.48% 5.41% 5.37% 5.35%
120% AFR 5.99% 5.90% 5.86% 5.83%
130% AFR 6.50% 6.40% 6.35% 6.32%

Mid-Term
AFR 5.37% 5.30% 5.27% 5.24%
110% AFR 5.91% 5.83% 5.79% 5.76%
120% AFR 6.46% 6.36% 6.31% 6.28%
130% AFR 7.01% 6.89% 6.83% 6.79%
150% AFR 8.11% 7.95% 7.87% 7.82%
175% AFR 9.50% 9.28% 9.17% 9.11%

Long-Term
AFR 5.79% 5.71% 5.67% 5.64%
110% AFR 6.38% 6.28% 6.23% 6.20%
120% AFR 6.97% 6.85% 6.79% 6.75%
130% AFR 7.56% 7.42% 7.35% 7.31%


REV. RUL. 99-25 TABLE 2

Adjusted AFR for June 1999

Period for Compounding
-------------------------------------------
Annual Semiannual Quarterly Monthly
------ ---------- --------- -------
Short-term
adjusted AFR 3.32% 3.29% 3.28% 3.27%

Mid-term
adjusted AFR 3.91% 3.87% 3.85% 3.84%

Long-term
adjusted AFR 4.85% 4.79% 4.76% 4.74%


REV. RUL. 99-25 TABLE 3

Rates Under Section 382 for June 1999

Adjusted federal long-term rate for the current month 4.85%

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.) 4.85%


REV. RUL. 99-25 TABLE 4

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

Appropriate percentage for the 70% present value
low-income housing credit 8.30%
Appropriate percentage for the 30% present value
low-income housing credit 3.56%


REV. RUL. 99-25 TABLE 5

Rate Under Section 7520 for June 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 6.4%

<<END RULING>>

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