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Applicable Federal Rate (AFR) – Complete Monthly PDF Directory 2020–2025

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This page provides a month-by-month directory of official IRS Revenue Ruling PDFs that publish the Applicable Federal Rates (AFR) and related tax reference rates.

For a detailed explanation of how AFR works, what short-, mid-, and long-term rates mean, and how the IRS uses these figures, see the
Applicable Federal Rate (AFR) – Explanation and IRS Monthly Updates.

Each IRS Revenue Ruling typically includes:

  • Applicable Federal Rates (short-term, mid-term, long-term)
  • Adjusted AFR for tax-exempt obligations (§1288)
  • §382 adjusted federal long-term and tax-exempt rates
  • §42 low-income housing credit percentages
  • §7520 rate for valuing annuities, life estates, and remainders

Where to find the latest AFR data

AFR PDF Directory (2025–2020)

Year</ Month IRS Revenue Ruling (PDF)
2025
2025 January Rev. Rul. 2025-1
2025 February Rev. Rul. 2025-3
2025 March Rev. Rul. 2025-5
2025 April Rev. Rul. 2025-7
2025 May Rev. Rul. 2025-9
2025 June Rev. Rul. 2025-11
2025 July Rev. Rul. 2025-13
2025 August Rev. Rul. 2025-15
2025 September Rev. Rul. 2025-17
2025 October Rev. Rul. 2025-19
2025 November Rev. Rul. 2025-21
2025 December (to be published)
2024
2024 January Rev. Rul. 2024-1
2024 February Rev. Rul. 2024-3
2024 March Rev. Rul. 2024-5
2024 April Rev. Rul. 2024-7
2024 May Rev. Rul. 2024-9
2024 June Rev. Rul. 2024-11
2024 July Rev. Rul. 2024-13
2024 August Rev. Rul. 2024-15
2024 September Rev. Rul. 2024-17
2024 October Rev. Rul. 2024-19
2024 November Rev. Rul. 2024-21
2024 December Rev. Rul. 2024-25
2023
2023 January Rev. Rul. 2023-1
2023 February Rev. Rul. 2023-3
2023 March Rev. Rul. 2023-5
2023 April Rev. Rul. 2023-7
2023 May Rev. Rul. 2023-9
2023 June Rev. Rul. 2023-11
2023 July Rev. Rul. 2023-13
2023 August Rev. Rul. 2023-15
2023 September Rev. Rul. 2023-17
2023 October Rev. Rul. 2023-19
2023 November Rev. Rul. 2023-21
2023 December Rev. Rul. 2023-23
2022
2022 January Rev. Rul. 2022-1
2022 February Rev. Rul. 2022-3
2022 March Rev. Rul. 2022-5
2022 April Rev. Rul. 2022-7
2022 May Rev. Rul. 2022-9
2022 June Rev. Rul. 2022-11
2022 July Rev. Rul. 2022-13
2022 August Rev. Rul. 2022-15
2022 September Rev. Rul. 2022-17
2022 October Rev. Rul. 2022-19
2022 November Rev. Rul. 2022-21
2022 December Rev. Rul. 2022-23
2021
2021 January Rev. Rul. 2021-2
2021 February Rev. Rul. 2021-4
2021 March Rev. Rul. 2021-6
2021 April Rev. Rul. 2021-8
2021 May Rev. Rul. 2021-10
2021 June Rev. Rul. 2021-12
2021 July Rev. Rul. 2021-14
2021 August Rev. Rul. 2021-16
2021 September Rev. Rul. 2021-18
2021 October Rev. Rul. 2021-20
2021 November Rev. Rul. 2021-22
2021 December Rev. Rul. 2021-24
2020
2020 January Rev. Rul. 2020-1
2020 February Rev. Rul. 2020-3
2020 March Rev. Rul. 2020-6
2020 April Rev. Rul. 2020-8
2020 May Rev. Rul. 2020-10
2020 June Rev. Rul. 2020-14
2020 July Rev. Rul. 2020-15
2020 August Rev. Rul. 2020-16
2020 September Rev. Rul. 2020-18
2020 October Rev. Rul. 2020-21
2020 November Rev. Rul. 2020-23
2020 December Rev. Rul. 2020-28

To review current-year AFR changes, trends, and planning notes, visit
AFR 2025 Updates – Current IRS Rates and Tax Planning Trends.

Source: Internal Revenue Service (IRS) – monthly Revenue Rulings for Applicable Federal Rates (AFR).

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