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The IRS has issued (Rev. Rul. 2007-50) the minimum interest rates for loans made in August 2007:
-Short Term (demand loans and loans with terms of up to 3 years): 5.00%
-Mid-Term (loans from 3-9 years): 5.09%
-Long-Term (over 9 years): 5.31%
Historical AFRs are available at the "links" page at www.rothcpa.com. You can also click here for the rates for prior months as reported in the Tax Update.
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The items included in the Tax Update Blog are informational only and are not meant as tax advice. Consult with your tax advisor to determine how any item applies to your situation.
Joe Kristan writes the Tax Update items, and any opinions expressed or implied are not neccesarily shared by anyone else at Roth & Company, P.C. Address questions or comments on Tax Updates to