Rev. Rul. 2021-12: July 2021 AFRs

The IRS has released Rev. Rul. 2021-12, which provides various prescribed rates for federal income tax purposes for July 2021 including short-term, mid-term, and long-term applicable federal rates (AFR) for the current month for purposes of section 1274(d) of the Internal Revenue Code and more.

To see Rev. Rul. 2021-12: Determination of Issue Price in the Case of Certain Debt Instruments Issued for Property, click here.

Posted by Jessica Ji, Associate Editor, Wealth Strategies Journal.