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Applicable Federal Rate

Applicable Federal Rate

Applicable Federal Rate means:
an interest rate determined monthly and based on the rate paid by the federal government on borrowed funds. An AFR is provided for short-term, mid-term, and long-term debt. If a seller-financed mortgage provides a rate that is less than the AFR, interest will be imputed at the AFR. Former IRC (check if this IRC provision is current here) § 1274(d).

See also other Tax Terms and Definitions in U.S.A.

below-market loan.

Description and Definition of Applicable Federal Rate

The Applicable Federal Rate is the interest rate fixed by the U.S. Treasury Department for determining imputed interest. If you are receiving or making payments for a loan or installment sale, but little or no interest is stated on the contract, the IRS assumes a rate of interest based on the published applicable federal rate.

Resources

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Further Reading

Appreciation in Value

Appreciation in Value

Description and Definition of Appreciation in Value

Appreciation in Value is the increase in the value of an asset which is due to economic and other conditions, as distinguished from increases in value due to improvements or additions made to it. When you sell appreciated property, you pay tax on the appreciation since the date of purchase. If you donate appreciated property to a charity you can usually deduct the fair market value of the property including appreciation.

Resources

See Also

Further Reading

Applicable Federal Rates

Applicable Federal Rates

Applicable Federal Rates for 2016

    • Short Term Rates for Jan. (2016): Annual: 0.75% ; Semiannual: 0.75% ; Quarterly: 0.75% ; Monthly: 0.75%
    • Short Term Rates for Feb. (2016): Annual: 0.81% ; Semiannual: 0.81% ; Quarterly: 0.81% ; Monthly: 0.81%
    • Short Term Rates for March (2016): Annual: 0.65% ; Semiannual: 0.65% ; Quarterly: 0.65% ; Monthly: 0.65%
    • Short Term Rates for April (2016): Annual: 0.70% ; Semiannual: 0.70% ; Quarterly: 0.70% ; Monthly: 0.70%
    • Mid Term Rates for Jan. (2016): Annual: 1.81% ; Semiannual: 1.80% ; Quarterly: 1.80% ; Monthly: 1.79%
    • Mid Term Rates for Feb. (2016): Annual: 1.82% ; Semiannual: 1.81% ; Quarterly: 1.81% ; Monthly: 1.80%
    • Mid Term Rates for March (2016): Annual: 1.48% ; Semiannual: 1.47% ; Quarterly: 1.47% ; Monthly: 1.47%
    • Mid Term Rates for April (2016): Annual: 1.45% ; Semiannual: 1.44% ; Quarterly: 1.44% ; Monthly: 1.44%
    • Long Term Rates for Jan. (2016): Annual: 2.65% ; Semiannual: 2.63% ; Quarterly: 2.62% ; Monthly: 2.62%
    • Long Term Rates for Feb. (2016): Annual: 2.62% ; Semiannual: 2.60% ; Quarterly: 2.59% ; Monthly: 2.59%
    • Long Term Rates for March (2016): Annual: 2.33% ; Semiannual: 2.32% ; Quarterly: 2.31% ; Monthly: 2.31%
    • Long Term Rates for April (2016): Annual: 2.25% ; Semiannual: 2.24% ; Quarterly: 2.23% ; Monthly: 2.23%

Applicable Federal Rates for 2015

    • Short Term Rates for Jan. (2015): Annual: 0.41% ; Semiannual: 0.41% ; Quarterly: 0.41% ; Monthly: 0.41%
    • Short Term Rates for Feb. (2015): Annual: 0.48% ; Semiannual: 0.48% ; Quarterly: 0.48% ; Monthly: 0.48%
    • Short Term Rates for March (2015): Annual: 0.40% ; Semiannual: 0.40% ; Quarterly: 0.40% ; Monthly: 0.40%
    • Short Term Rates for April (2015): Annual: 0.48% ; Semiannual: 0.48% ; Quarterly: 0.48% ; Monthly: 0.48%
    • Short Term Rates for May (2015): Annual: 0.43% ; Semiannual: 0.43% ; Quarterly: 0.43% ; Monthly: 0.43%
    • Short Term Rates for June (2015): Annual: 0.43% ; Semiannual: 0.43% ; Quarterly: 0.43% ; Monthly: 0.43%
    • Short Term Rates for July (2015): Annual: 0.48% ; Semiannual: 0.48% ; Quarterly: 0.48% ; Monthly: 0.48%
    • Short Term Rates for Aug. (2015): Annual: 0.48% ; Semiannual: 0.48% ; Quarterly: 0.48% ; Monthly: 0.48%
    • Short Term Rates for Sept. (2015): Annual: 0.54% ; Semiannual: 0.54% ; Quarterly: 0.54% ; Monthly: 0.54%
    • Short Term Rates for Oct. (2015): Annual: 0.55% ; Semiannual: 0.55% ; Quarterly: 0.55% ; Monthly: 0.55%
    • Short Term Rates for Nov. (2015): Annual: 0.49% ; Semiannual: 0.49% ; Quarterly: 0.49% ; Monthly: 0.49%
    • Short Term Rates for Dec. (2015): Annual: 0.56% ; Semiannual: 0.56% ; Quarterly: 0.56% ; Monthly: 0.56%
    • Mid Term Rates for Jan. (2015): Annual: 1.75% ; Semiannual: 1.74% ; Quarterly: 1.74% ; Monthly: 1.73%
    • Mid Term Rates for Feb. (2015): Annual: 1.70% ; Semiannual: 1.69% ; Quarterly: 1.69% ; Monthly: 1.68%
    • Mid Term Rates for March (2015): Annual: 1.47% ; Semiannual: 1.46% ; Quarterly: 1.46% ; Monthly: 1.46%
    • Mid Term Rates for April (2015): Annual: 1.70% ; Semiannual: 1.69% ; Quarterly: 1.69% ; Monthly: 1.68%
    • Mid Term Rates for May (2015): Annual: 1.53% ; Semiannual: 1.52% ; Quarterly: 1.52% ; Monthly: 1.52%
    • Mid Term Rates for June (2015): Annual: 1.60% ; Semiannual: 1.59% ; Quarterly: 1.59% ; Monthly: 1.58%
    • Mid Term Rates for July (2015): Annual: 1.77% ; Semiannual: 1.76% ; Quarterly: 1.76% ; Monthly: 1.75%
    • Mid Term Rates for Aug. (2015): Annual: 1.82% ; Semiannual: 1.81% ; Quarterly: 1.81% ; Monthly: 1.80%
    • Mid Term Rates for Sept. (2015): Annual: 1.77% ; Semiannual: 1.76% ; Quarterly: 1.76% ; Monthly: 1.75%
    • Mid Term Rates for Oct. (2015): Annual: 1.67% ; Semiannual: 1.66% ; Quarterly: 1.66% ; Monthly: 1.65%
    • Mid Term Rates for Nov. (2015): Annual: 1.59% ; Semiannual: 1.58% ; Quarterly: 1.58% ; Monthly: 1.57%
    • Mid Term Rates for Dec. (2015): Annual: 1.68% ; Semiannual: 1.67% ; Quarterly: 1.67% ; Monthly: 1.66%
    • Long Term Rates for Jan. (2015): Annual: 2.67% ; Semiannual: 2.65% ; Quarterly: 2.64% ; Monthly: 2.64%
    • Long Term Rates for Feb. (2015): Annual: 2.41% ; Semiannual: 2.40% ; Quarterly: 2.39% ; Monthly: 2.39%
    • Long Term Rates for March (2015): Annual: 2.19% ; Semiannual: 2.18% ; Quarterly: 2.17% ; Monthly: 2.17%
    • Long Term Rates for April (2015): Annual: 2.47% ; Semiannual: 2.45% ; Quarterly: 2.44% ; Monthly: 2.44%
    • Long Term Rates for May (2015): Annual: 2.30% ; Semiannual: 2.29% ; Quarterly: 2.28% ; Monthly: 2.28%
    • Long Term Rates for June (2015): Annual: 2.50% ; Semiannual: 2.48% ; Quarterly: 2.47% ; Monthly: 2.47%
    • Long Term Rates for July (2015): Annual: 2.74% ; Semiannual: 2.72% ; Quarterly: 2.71% ; Monthly: 2.70%
    • Long Term Rates for Aug. (2015): Annual: 2.82% ; Semiannual: 2.80% ; Quarterly: 2.79% ; Monthly: 2.78%
    • Long Term Rates for Sept. (2015): Annual: 2.64% ; Semiannual: 2.62% ; Quarterly: 2.61% ; Monthly: 2.61%
    • Long Term Rates for Oct. (2015): Annual: 2.58% ; Semiannual: 2.56% ; Quarterly: 2.55% ; Monthly: 2.55%
    • Long Term Rates for Nov. (2015): Annual: 2.57% ; Semiannual: 2.55% ; Quarterly: 2.54% ; Monthly: 2.54%
    • Long Term Rates for Dec. (2015): Annual: 2.61% ; Semiannual: 2.59% ; Quarterly: 2.58% ; Monthly: 2.58%

Applicable Federal Rates for 2014

  • Short Term Rates for Jan. (2014): Annual: 0.25% ; Semiannual: 0.25% ; Quarterly: 0.25% ; Monthly: 0.25%
  • Short Term Rates for Feb. (2014): Annual: 0.30% ; Semiannual: 0.30% ; Quarterly: 0.30% ; Monthly: 0.30%
  • Short Term Rates for March (2014): Annual: 0.28% ; Semiannual: 0.28% ; Quarterly: 0.28% ; Monthly: 0.28%
  • Short Term Rates for April (2014): Annual: 0.28% ; Semiannual: 0.28% ; Quarterly: 0.28% ; Monthly: 0.28%
  • Short Term Rates for May (2014): Annual: 0.33% ; Semiannual: 0.33% ; Quarterly: 0.33% ; Monthly: 0.33%
  • Short Term Rates for June (2014): Annual: 0.32% ; Semiannual: 0.32% ; Quarterly: 0.32% ; Monthly: 0.32%
  • Short Term Rates for July (2014): Annual: 0.31% ; Semiannual: 0.31% ; Quarterly: 0.31% ; Monthly: 0.31%
  • Short Term Rates for Aug. (2014): Annual: 0.36% ; Semiannual: 0.36% ; Quarterly: 0.36% ; Monthly: 0.36%
  • Short Term Rates for Sept. (2014): Annual: 0.36% ; Semiannual: 0.36% ; Quarterly: 0.36% ; Monthly: 0.36%
  • Short Term Rates for Oct. (2014): Annual: 0.38% ; Semiannual: 0.38% ; Quarterly: 0.38% ; Monthly: 0.38%
  • Short Term Rates for Nov. (2014): Annual: 0.39% ; Semiannual: 0.39% ; Quarterly: 0.39% ; Monthly: 0.39%
  • Short Term Rates for Dec. (2014): Annual: 0.34% ; Semiannual: 0.34% ; Quarterly: 0.34% ; Monthly: 0.34%
  • Mid Term Rates for Jan. (2014): Annual: 1.75% ; Semiannual: 1.74% ; Quarterly: 1.74% ; Monthly: 1.73%
  • Mid Term Rates for Feb. (2014): Annual: 1.97% ; Semiannual: 1.96% ; Quarterly: 1.96% ; Monthly: 1.95%
  • Mid Term Rates for March (2014): Annual: 1.84% ; Semiannual: 1.83% ; Quarterly: 1.83% ; Monthly: 1.82%
  • Mid Term Rates for April (2014): Annual: 1.81% ; Semiannual: 1.80% ; Quarterly: 1.80% ; Monthly: 1.79%
  • Mid Term Rates for May (2014): Annual: 1.93% ; Semiannual: 1.92% ; Quarterly: 1.92% ; Monthly: 1.91%
  • Mid Term Rates for June (2014): Annual: 1.91% ; Semiannual: 1.90% ; Quarterly: 1.90% ; Monthly: 1.89%
  • Mid Term Rates for July (2014): Annual: 1.82% ; Semiannual: 1.81% ; Quarterly: 1.81% ; Monthly: 1.80%
  • Mid Term Rates for Aug. (2014): Annual: 1.89% ; Semiannual: 1.88% ; Quarterly: 1.88% ; Monthly: 1.87%
  • Mid Term Rates for Sept. (2014): Annual: 1.86% ; Semiannual: 1.85% ; Quarterly: 1.85% ; Monthly: 1.84%
  • Mid Term Rates for Oct. (2014): Annual: 1.85% ; Semiannual: 1.84% ; Quarterly: 1.84% ; Monthly: 1.83%
  • Mid Term Rates for Nov. (2014): Annual: 1.90% ; Semiannual: 1.89% ; Quarterly: 1.89% ; Monthly: 1.88%
  • Mid Term Rates for Dec. (2014): Annual: 1.72% ; Semiannual: 1.71% ; Quarterly: 1.71% ; Monthly: 1.70%
  • Long Term Rates for Jan. (2014): Annual: 3.49% ; Semiannual: 3.46% ; Quarterly: 3.45% ; Monthly: 3.44%
  • Long Term Rates for Feb. (2014): Annual: 3.56% ; Semiannual: 3.53% ; Quarterly: 3.51% ; Monthly: 3.50%
  • Long Term Rates for March (2014): Annual: 3.36% ; Semiannual: 3.33% ; Quarterly: 3.32% ; Monthly: 3.31%
  • Long Term Rates for April (2014): Annual: 3.32% ; Semiannual: 3.29% ; Quarterly: 3.28% ; Monthly: 3.27%
  • Long Term Rates for May (2014): Annual: 3.27% ; Semiannual: 3.24% ; Quarterly: 3.23% ; Monthly: 3.22%
  • Long Term Rates for June (2014): Annual: 3.14% ; Semiannual: 3.12% ; Quarterly: 3.11% ; Monthly: 3.10%
  • Long Term Rates for July (2014): Annual: 3.06% ; Semiannual: 3.04% ; Quarterly: 3.03% ; Monthly: 3.02%
  • Long Term Rates for Aug. (2014): Annual: 3.09% ; Semiannual: 3.07% ; Quarterly: 3.06% ; Monthly: 3.05%
  • Long Term Rates for Sept. (2014): Annual: 2.97% ; Semiannual: 2.95% ; Quarterly: 2.94% ; Monthly: 2.93%
  • Long Term Rates for Oct. (2014): Annual: 2.89% ; Semiannual: 2.87% ; Quarterly: 2.86% ; Monthly: 2.85%
  • Long Term Rates for Nov. (2014): Annual: 2.91% ; Semiannual: 2.89% ; Quarterly: 2.88% ; Monthly: 2.87%
  • Long Term Rates for Dec. (2014): Annual: 2.74% ; Semiannual: 2.72% ; Quarterly: 2.71% ; Monthly: 2.70%
  • 2013 — ; Semiannual: ; Quarterly: ; Monthly:
  • Short Term Rates for Jan. (2013): Annual: 0.21% ; Semiannual: 0.21% ; Quarterly: 0.21% ; Monthly: 0.21%
  • Short Term Rates for Feb. (2013): Annual: 0.21% ; Semiannual: 0.21% ; Quarterly: 0.21% ; Monthly: 0.21%
  • Short Term Rates for March (2013): Annual: 0.22% ; Semiannual: 0.22% ; Quarterly: 0.22% ; Monthly: 0.22%
  • Short Term Rates for April (2013): Annual: 0.22% ; Semiannual: 0.22% ; Quarterly: 0.22% ; Monthly: 0.22%
  • Short Term Rates for May (2013): Annual: 0.20% ; Semiannual: 0.20% ; Quarterly: 0.20% ; Monthly: 0.20%
  • Short Term Rates for June (2013): Annual: 0.18% ; Semiannual: 0.18% ; Quarterly: 0.18% ; Monthly: 0.18%
  • Short Term Rates for July (2013): Annual: 0.23% ; Semiannual: 0.23% ; Quarterly: 0.23% ; Monthly: 0.23%
  • Short Term Rates for Aug. (2013): Annual: 0.28% ; Semiannual: 0.28% ; Quarterly: 0.28% ; Monthly: 0.28%
  • Short Term Rates for Sept. (2013): Annual: 0.25% ; Semiannual: 0.25% ; Quarterly: 0.25% ; Monthly: 0.25%
  • Short Term Rates for Oct. (2013): Annual: 0.32% ; Semiannual: 0.32% ; Quarterly: 0.32% ; Monthly: 0.32%
  • Short Term Rates for Nov. (2013): Annual: 0.27% ; Semiannual: 0.27% ; Quarterly: 0.27% ; Monthly: 0.27%
  • Short Term Rates for Dec. (2013): Annual: 0.25% ; Semiannual: 0.25% ; Quarterly: 0.25% ; Monthly: 0.25%
  • Mid Term Rates for Jan. (2013): Annual: 0.87% ; Semiannual: 0.87% ; Quarterly: 0.87% ; Monthly: 0.87%
  • Mid Term Rates for Feb. (2013): Annual: 1.01% ; Semiannual: 1.01% ; Quarterly: 1.01% ; Monthly: 1.01%
  • Mid Term Rates for March (2013): Annual: 1.09% ; Semiannual: 1.09% ; Quarterly: 1.09% ; Monthly: 1.09%
  • Mid Term Rates for April (2013): Annual: 1.09% ; Semiannual: 1.09% ; Quarterly: 1.09% ; Monthly: 1.09%
  • Mid Term Rates for May (2013): Annual: 1.00% ; Semiannual: 1.00% ; Quarterly: 1.00% ; Monthly: 1.00%
  • Mid Term Rates for June (2013): Annual: 0.95% ; Semiannual: 0.95% ; Quarterly: 0.95% ; Monthly: 0.95%
  • Mid Term Rates for July (2013): Annual: 1.21% ; Semiannual: 1.21% ; Quarterly: 1.21% ; Monthly: 1.21%
  • Mid Term Rates for Aug. (2013): Annual: 1.63% ; Semiannual: 1.62% ; Quarterly: 1.62% ; Monthly: 1.62%
  • Mid Term Rates for Sept. (2013): Annual: 1.66% ; Semiannual: 1.65% ; Quarterly: 1.65% ; Monthly: 1.64%
  • Mid Term Rates for Oct. (2013): Annual: 1.93% ; Semiannual: 1.92% ; Quarterly: 1.92% ; Monthly: 1.91%
  • Mid Term Rates for Nov. (2013): Annual: 1.73% ; Semiannual: 1.72% ; Quarterly: 1.72% ; Monthly: 1.71%
  • Mid Term Rates for Dec. (2013): Annual: 1.65% ; Semiannual: 1.64% ; Quarterly: 1.64% ; Monthly: 1.63%
  • Long Term Rates for Jan. (2013): Annual: 2.31% ; Semiannual: 2.30% ; Quarterly: 2.29% ; Monthly: 2.29%
  • Long Term Rates for Feb. (2013): Annual: 2.52% ; Semiannual: 2.50% ; Quarterly: 2.49% ; Monthly: 2.49%
  • Long Term Rates for March (2013): Annual: 2.66% ; Semiannual: 2.64% ; Quarterly: 2.63% ; Monthly: 2.63%
  • Long Term Rates for April (2013): Annual: 2.70% ; Semiannual: 2.68% ; Quarterly: 2.67% ; Monthly: 2.67%
  • Long Term Rates for May (2013): Annual: 2.60% ; Semiannual: 2.58% ; Quarterly: 2.57% ; Monthly: 2.57%
  • Long Term Rates for June (2013): Annual: 2.47% ; Semiannual: 2.45% ; Quarterly: 2.44% ; Monthly: 2.44%
  • Long Term Rates for July (2013): Annual: 2.80% ; Semiannual: 2.78% ; Quarterly: 2.77% ; Monthly: 2.76%
  • Long Term Rates for Aug. (2013): Annual: 3.16% ; Semiannual: 3.14% ; Quarterly: 3.13% ; Monthly: 3.12%
  • Long Term Rates for Sept. (2013): Annual: 3.28% ; Semiannual: 3.25% ; Quarterly: 3.24% ; Monthly: 3.23%
  • Long Term Rates for Oct. (2013): Annual: 3.50% ; Semiannual: 3.47% ; Quarterly: 3.46% ; Monthly: 3.45%
  • Long Term Rates for Nov. (2013): Annual: 3.37% ; Semiannual: 3.34% ; Quarterly: 3.33% ; Monthly: 3.32%
  • Long Term Rates for Dec. (2013): Annual: 3.32% ; Semiannual: 3.29% ; Quarterly: 3.28% ; Monthly: 3.27%

Appellate Court

Appellate Court

.

Appellate Court (appeals Court)

It is a court having authority to review the law applied by a lower court in the same case. In most instances, the trial court first decides a lawsuit, with review of its decision then available in an appellate court. Examples of appellate courts are the U.S. Court of Appeals and the U.S. Supreme Court. Former IRC (check if this IRC provision is current here) §7441.

Apportionment

Apportionment

Apportionment may have one of the following meanings, depending the context of the term:

1. Federal) The U.S. Internal Revenue Service (IRS) can reallocate or reapportion items of income or expense between or among related taxpayers if the allocation made by the taxpayers was for the purpose of avoiding tax or if it inaccurately reflects taxable income. 2. (State) Many states require multistate taxpayers to compute the income taxable to a particular state by one of two methods:

(a) Direct allocation-income and expense items for a particular state must be specifically reported.

(b) Apportionment-federal income is apportioned between states using any or all of the following factors:

(i) sales revenue, (ii) payroll expense, (iii) property basis.

See the entries Income Tax and State Income Tax in the American Encyclopedia of Law.

See Payroll Tax in the U.S. Legal Encyclopedia and Payroll Tax in the World Legal Encyclopedia.

Appraisal

Appraisal

Appraisal means:
a professional opinion or estimate of the value of a property. For example, an owner may have an appraisal made of a specific property to determine a reasonable offering price in a sale, to determine the value at gift or death for estate or gift tax purposes, to allocate the purchase price to the land and improvements, or to determine the amount of hazard insurance to carry. Appraisals are important when a C corporation elects to become an S corporation in order to determine the built-in gain and loss.

See Inheritance Tax and Inheritance Tax.

Apartment Building

Apartment Building

Apartment Building means:
a structure with individual apartment units but a common entrance and hallway. An apartment building may have stores in it, for example, on the ground floor. Generally, when 80% or more of the revenue is received from residential rental units, the entire building may be depreciated as residential property.

Appeals Officer

Appeals Officer

Appeals Officer means:
an U.S. Internal Revenue Service (IRS) employee who has authority” to resolve disputes with a taxpayer, including reaching a compromise, after the taxpayer receives a 30-day letter. The appeals officer may consider the hazards of litigation, whereas a revenue agent must follow the regulations and any other published positions of the IRS.