What is the current Applicable Federal Rate (AFR).?

Question

We are working on a family loan and need to understand what this number is currently so we are within the guidelines of th IRS. Any thoughts or guidance appreciated. Thank you.

Answer 1

Go to irs.gov.

Type AFR in the search box.  Short term means less than 3 years; long term means more than 9 years.

Answer 2

Hello, helloeveryone,

  The Applicable Federal Rates vary by term, short, medium, long.  They are published in tale form periodically, and the latest are in Internal Revenue Bulletin 2008-18, which can be found on the irs.gov website.  Just search for the bulletin number.  These are not loan rates, however.  Are you looking for current market rates?   Check out marketwatch.com for a daily update on current commercial loan rates.