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FAMILY LOANS. This Article is designed to be of general interest. Loans must carry the IRS minimum interest rate or they have adverse tax consequences.
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The IRS isn't concerned with most family loans to your son The rate of interest on the loan must be at least as high as the minimum interest rates set by the IRS.
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payment penalty interest to use a credit card or get a loan to pay the bill in full, rather than make installment payments to the IRS. The interest rate on
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Applicable Federal Rates the U.S. Internal Revenue Service publishes base interest rates known as the applicable federal rates ("AFRs"). These interest rates are
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The fixed-rate loan payments will be equal amounts until the loan plus interest are paid in full. The payment amount can be calculated using the or IRS
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