Rev. Rul. 2024-04 — Internal Revenue Bulletin 2024-10

This revenue ruling provides various prescribed rates for federal income tax

purposes for March 2024 (the current month). Table 1 contains the shortterm, 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 appropri

ate percentages for determining the low-income housing credit described in section 42(b)(1) for buildings placed in service during the current month. However, under section 42(b)(2), the applicable percentage for non-federally subsidized new buildings placed in service after July 30, 2008, shall not be less than 9%. 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. 2024-04 TABLE 1 Applicable Federal Rates (AFR) for March 2024

Period for Compounding Annual Semiannual Quarterly Monthly Short-term AFR 4.71% 4.66% 4.63% 4.62% 110% AFR 5.20% 5.13% 5.10% 5.08% 120% AFR 5.67% 5.59% 5.55% 5.53% 130% AFR 6.15% 6.06% 6.01% 5.98% Mid-term AFR 4.13% 4.09% 4.07% 4.06% 110% AFR 4.55% 4.50% 4.47% 4.46% 120% AFR 4.97% 4.91% 4.88% 4.86% 130% AFR 5.39% 5.32% 5.29% 5.26% 150% AFR 6.23% 6.14% 6.09% 6.06% 175% AFR 7.29% 7.16% 7.10% 7.06% Long-term AFR 4.40% 4.35% 4.33% 4.31% 110% AFR 4.85% 4.79% 4.76% 4.74% 120% AFR 5.29% 5.22% 5.19% 5.16% 130% AFR 5.74% 5.66% 5.62% 5.59%

REV. RUL. 2024-04 TABLE 2

Adjusted AFR for March 2024

Period for Compounding Annual Semiannual Quarterly Monthly Short-term adjusted AFR 3.57% 3.54% 3.52% 3.51% Mid-term adjusted AFR 3.13% 3.11% 3.10% 3.09% Long-term adjusted AFR 3.33% 3.30% 3.29% 3.28%

March 4, 2024 686 Bulletin No. 2024–10

REV. RUL. 2024-04 TABLE 3 Rates Under Section 382 for March 2024 Adjusted federal long-term rate for the current month 3.33% Long-term tax-exempt rate for ownership changes during the current month (the highest of the adjusted federal 3.44% long-term rates for the current month and the prior two months.)

REV. RUL. 2024-04 TABLE 4 Appropriate Percentages Under Section 42(b)(1) for March 2024 Note: Under section 42(b)(2), the applicable percentage for non-federally subsidized new buildings placed in service after July 30, 2008, shall not be less than 9%. Appropriate percentage for the 70% present value low-income housing credit 7.99% Appropriate percentage for the 30% present value low-income housing credit 3.42%

REV. RUL. 2024-04 TABLE 5 Rate Under Section 7520 for March 2024 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

5.00%

Section 42.—Low-Income Housing Credit