For purposes of determining the present value of an annuity, an interest for life or a term of years, or a remainder or a reversionary interest, Revenue Ruling 2008-46 indicates the applicable federal rate under section 7520 for September 2008 is 4.2%; unchanged from the August and July rates of 4.2%.  MORE »

For purposes of determining the present value of an annuity, an interest for life or a term of years, or a remainder or a reversionary interest, Revenue Ruling 2008-43 indicates the applicable federal rate under section 7520 for August 2008 is 4.2%; unchanged from the July rate of 4.2% and up 0.4% from the June rate of 3.8%.  MORE »

The Service has issued a long-awaited revenue ruling in which it addresses two situations in which a charitable remainder trust is divided pro rata into two or more separate trusts. Such divisions are common when the income recipients desire to separate their interests and when joint income recipients divorce.  MORE »

For purposes of determining the present value of an annuity, an interest for life or a term of years, or a remainder or a reversionary interest, Revenue Ruling 2008-33 indicates the applicable federal rate under section 7520 for July 2008 is 4.2%; up 0.4% from the June rate of 3.8% and up 1.0% from the May rate of 3.2%.  MORE »

For purposes of determining the present value of an annuity, an interest for life or a term of years, or a remainder or a reversionary interest, Revenue Ruling 2008-28 indicates the applicable federal rate under section 7520 for June 2008 is 3.8%; up 0.6% from the May rate of 3.2% and up 0.4% from the April rate of 3.4%.  MORE »

For purposes of determining the present value of an annuity, an interest for life or a term of years, or a remainder or a reversionary interest, Revenue Ruling 2008-24 indicates the applicable federal rate under section 7520 for May 2008 is 3.2%; down 0.2% from the April rate of 3.4% and down 0.4% from the March rate of 3.6%.

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For purposes of determining the present value of an annuity, an interest for life or a term of years, or a remainder or a reversionary interest, Revenue Ruling 2008-20 indicates the applicable federal rate under section 7520 for April 2008 is 3.4%; down 0.2% from the March rate of 3.6% and down 0.8% from the February rate of 4.2%.  MORE »

The IRS has released a revenue ruling that confirms many of our hopes regarding charitable gifts of appreciated property by a Subchapter S corporation. Normally a shareholder's income tax deduction for an S corporation's business losses is limited to the shareholder's basis in the corporation's stock. The IRS has now confirmed that charitable gifts can qualify for better tax treatment. Click through to read Chris Hoyt's analysis.  MORE »

For purposes of determining the present value of an annuity, an interest for life or a term of years, or a remainder or a reversionary interest, Revenue Ruling 2008-11 indicates the applicable federal rate under section 7520 for March 2008 is 3.6%; down 0.6% from the February rate of 4.2% and down 0.8% from the January rate of 4.4%. Note: The original announcement by IRS incorrectly stated the March 7520 rate at 4.0%  MORE »

For purposes of determining the present value of an annuity, an interest for life or a term of years, or a remainder or a reversionary interest, Revenue Ruling 2008-9 indicates the applicable federal rate under section 7520 for February 2008 is 4.2%; down 0.2% from the January rate of 4.4% and down 0.8% from the December rate of 5.0%.  MORE »