Internal Revenue Bulletin — Rulings & Guidance
Rev. Rul. 2025-24 — Federal rates; adjusted federal rates; adjusted federal long-term rate, and the long-term tax exempt rate.
This revenue ruling provides various prescribed rates for federal income tax purposes for December 2025 (the current month). Table 1 contains the 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. Table 2 contains the short-term, mid-term, and long-term adjusted applicable federal rates (adjusted AFR) for the current month for purposes of section 1288(b). Table 3 sets forth the adjusted federal long-term rate and the long-term tax-exempt rate described in section 382(f). Table 4 contains the appropriate percentages for determining the low-income housing credit described in section 42(b)(1) for buildings placed in service during the current month. However, under section 42(b)(2), the applicable percentage for non-federally subsidized new buildings placed in service after July 30, 2008, shall not be less than 9%. Finally, Table 5 contains the federal rate for determining the present value of an annuity, an interest for life or for a term of years, or a remainder or a reversionary interest for purposes of section 7520.
REV. RUL. 2025-24 TABLE 1 Applicable Federal Rates (AFR) for December 2025 Period for Compounding
| Annual | Semiannual | Quarterly | Monthly | |
|---|---|---|---|---|
| Short-term | ||||
| AFR | 3.66% | 3.63% | 3.61% | 3.60% |
| 110% AFR | 4.03% | 3.99% | 3.97% | 3.96% |
| 120% AFR | 4.41% | 4.36% | 4.34% | 4.32% |
| 130% AFR | 4.78% | 4.72% | 4.69% | 4.67% |
| Mid-term | ||||
| AFR | 3.79% | 3.75% | 3.73% | 3.72% |
| 110% AFR | 4.17% | 4.13% | 4.11% | 4.09% |
| 120% AFR | 4.55% | 4.50% | 4.47% | 4.46% |
| 130% AFR | 4.94% | 4.88% | 4.85% | 4.83% |
| 150% AFR | 5.71% | 5.63% | 5.59% | 5.57% |
| 175% AFR | 6.67% | 6.56% | 6.51% | 6.47% |
| Long-term | ||||
| AFR | 4.55% | 4.50% | 4.47% | 4.46% |
| 110% AFR | 5.01% | 4.95% | 4.92% | 4.90% |
| 120% AFR | 5.47% | 5.40% | 5.36% | 5.34% |
| 130% AFR | 5.94% | 5.85% | 5.81% | 5.78% |
REV. RUL. 2025-24 TABLE 2 Adjusted AFR for December 2025 Period for Compounding
| Annual | Semiannual | Quarterly | Monthly | |
|---|---|---|---|---|
| Short-term adjusted AFR | 2.78% | 2.76% | 2.75% | 2.74% |
| Mid-term adjusted AFR | 2.87% | 2.85% | 2.84% | 2.83% |
| Long-term adjusted AFR | 3.45% | 3.42% | 3.41% | 3.40% |
REV. RUL. 2025-24 TABLE 3 Rates Under Section 382 for December 2025
| Adjusted federal long-term rate for the current month | 3.45% |
| Long-term tax-exempt rate for ownership changes during the current month (the highest of the adjusted federal long-term rates for the current month and the prior two months.) | 3.58% |
REV. RUL. 2025-24 TABLE 4 Appropriate Percentages Under Section 42(b)(1) for December 2025
| Note: Under section 42(b)(2), the applicable percentage for non-federally subsidized new buildings placed in service after July 30, 2008, shall not be less than 9%. | |
| Appropriate percentage for the 70% present value low-income housing credit | 7.97% |
| Appropriate percentage for the 30% present value low-income housing credit | 3.41% |
Section 42.—Low-Income Housing Credit
The applicable federal short-term, mid-term, and long-term rates are set forth for the month of December 2025. See Rev. Rul. 2025-24, page 764.
Section 280G.—Golden Parachute Payments
The applicable federal short-term, mid-term, and long-term rates are set forth for the month of December 2025. See Rev. Rul. 2025-24 page 764.
Section 382.—Limitation on Net Operating Loss Carryforwards and Certain Built-In Losses Following Ownership Change
The adjusted applicable federal long-term rate is set forth for the month of December 2025. See Rev. Rul. 2025-24, page 764.
Section 467.—Certain Payments for the Use of Property or Services
The applicable federal short-term, mid-term, and long-term rates are set forth for the month of December 2025. See Rev. Rul. 2025-24, page 764.
Section 468.—Special Rules for Mining and Solid Waste Reclamation and Closing Costs
The applicable federal short-term rates are set forth for the month of December 2025. See Rev. Rul. 2025-24, page 764.
Section 482.—Allocation of Income and Deductions Among Taxpayers
The applicable federal short-term, mid-term, and long-term rates are set forth for the month of December 2025. See Rev. Rul. 2025-24, page 764.
Section 483.—Interest on Certain Deferred Payments
The applicable federal short-term, mid-term, and long-term rates are set forth for the month of December 2025. See Rev. Rul. 2025-24, page 764.
Section 1288.—Treatment of Original Issue Discount on Tax-Exempt Obligations
The adjusted applicable federal short-term, mid-term, and long-term rates are set forth for the month of December 2025. See Rev. Rul. 2025-24, page 764.
Section 7520.—Valuation Tables
The applicable federal mid-term rates are set forth for the month of December 2025. See Rev. Rul. 2025-24, page 764.
Section 7872.—Treatment of Loans With Below-Market Interest Rates
The applicable federal short-term, mid-term, and long-term rates are set forth for the month of December 2025. See Rev. Rul. 2025-24, page 764.
Source: official text