1993 interest rate for demand loans.
For demand loans with principal amounts that fluctuate during the year, the minimum interest rate is based on a month-by-month computation using the short-term applicable federal rate issued for each month.
Observation: With long-term IRS minimum rates at an all-time low (about 6.5% for long-term notes over nine years originating in mid-1993), taxpayers may wish to convert open demand note to fixed-term obligations.
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|Publication:||Journal of Accountancy|
|Article Type:||Brief Article|
|Date:||Sep 1, 1993|
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