Irs Interest Rates For Family Loans 2024. Family lenders must also consider irs guidelines. The applicable federal rate (afr) is the minimum interest rate that the internal revenue service (irs) allows for private loans.
The rates for interest determined under section 6621 of the code for the calendar quarter beginning april 1, 2024, will be 8. Pursuant to internal revenue code 7520, the interest rate for a particular month is the rate that is 120 percent of the applicable federal midterm rate (compounded annually) for.
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