7520 Rate for May Up to 2.4%

7520 Rate for May Up to 2.4%

News story posted in Revenue Rulings on 24 April 2014| comments
audience: National Publication | last updated: 24 April 2014
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Summary

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, the applicable federal rate under section 7520 for May 2014 is 2.4%; Up from 2.2%, last month's rate.

Click here to review all historical discount rates.

Advisors should be aware that the 7520 rate affects many charitable deductions. When calculating a deduction the current month's rate or the prior two months' rates may be used to optomize the deduction based on planning objectives.

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7520 Rates: October 2.2% September 2.4% August 2.4%

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