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IRS ISSUES APPLICABLE FEDERAL RATES (AFR) FOR OCTOBER 2008
September 18, 2008
The IRS has issued (Rev. Rul. 2008-49) the minimum interest rates for loans made in October 2008:
-Short Term (demand loans and loans with terms of up to 3 years): 2.19%
-Mid-Term (loans from 3-9 years): 3.16%
-Long-Term (over 9 years): 4.32%
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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