Section 1274.—Determi- nation of Issue Price in the Case of Certain Debt Instru- ments…

(Also sections 42, 280G, 382, 412, 467, 468, 482, 483, 642, 807, 846, 1288, 7520, 7872.)

Federal rates; adjusted federal rates; adjusted federal long-term rate and the long-term exempt rate. For purposes of sections 382, 642, 1274, 1288, and other sections of the Code, tables set forth the rates for January 2004.

Rev. Rul. 2004–2

This revenue ruling provides various prescribed rates for federal income tax purposes for January 2004 (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

Mark E. Matthews, Deputy Commissioner for Services

and Enforcement .

Approved December 3, 2003.

Gregory Jenner, Deputy Assistant Secretary (Tax Policy) .

(Filed by the Office of the Federal Register on December 16, 2003, 8:45 a.m., and published in the issue of the Federal Register for December 17, 2003, 68 F.R. 70141)