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Applicable Federal Rates (AFR) for April 2024

The IRS in Revenue Ruling 2024-07 has issued the various prescribed rates for federal income tax purposes. What Is the Applicable Federal Rate (AFR)? The applicable federal rate (AFR) is the minimum interest rate that theĀ Internal Revenue Service (IRS) allows for private loans. Each month the IRS publishes a set of interest rates that the […]