Daily Tax Update - April 18, 2017: IRS Publishes Applicable Interest Rates for May

IRS Publishes Applicable Interest Rates for May:  Today, the IRS released Revenue Ruling 2017-11, which provides various prescribed rates for federal income tax purposes for May, including applicable federal rates, adjusted applicable federal rates, the long-term tax-exempt rate, the appropriate percentages for determining the low-income housing credit, and 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.