November 2025 IRS Bulletin Highlights: New Rate Tables, Reporting Rules, and Fee Increases
Internal Revenue Bulletin 2025-45 (Nov. 3 2025)
The IRS published the November 3, 2025, Internal Revenue Bulletin (No. 2025-45). It includes federal rate tables for November 2025, transitional guidance for reporting new passenger-vehicle loan interest disclosures, updated PCORTF fee amounts, and the inflation adjustments for 2026 under Rev. Proc. 2025-32, which reflect the One Big Beautiful Bill Act (Public Law 119-21).
Key Administrative and Income Tax Updates
1. Revenue Ruling 2025-21
Federal Rates for November 2025
Publishes the applicable federal rates (AFRs) under §§ 1274, 1288, 7872, and 7520.
Short-term annual AFR = 3.69%; mid-term = 3.83%; long-term = 4.62%.
Adjusted federal long-term rate = 3.50%; long-term tax-exempt rate = 3.65%.
§ 42 low-income housing credit percentages: 70% credit = 7.98%; 30% credit = 3.42%.
§ 7520 rate for present-value calculations = 4.60%.
Practical impact: establishes discount and present-value rates for debt instruments, inter-company loans, below-market loans, valuation of annuities, and low-income hous…
