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APPLICABLE FEDERAL RATES (AFR) ISSUED FOR MAY 2008

April 24, 2008

The IRS has issued (Rev. Rul. 2008-24) the minimum interest rates for loans made in May 2008:

-Short Term (demand loans and loans with terms of up to 3 years): 1.64%
-Mid-Term (loans from 3-9 years): 2.74%
-Long-Term (over 9 years): 4.21%

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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