August AFR Rates
IRS just issued the August Applicable Federal Interest Rates and the trend appears to be going down some.
Each month the IRS issues the applicable federal interest rates (AFR) required under Section 1274 and other related sections of the Code. The IRS just released the interest rates for August 2024.
Based on a review of the monthly releases it appears that these interest rates peaked in June of this year and are now about 20 basis points lower. Also, the Federal Reserve is expected to start dropping rates in September.
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