TaxEsqBlog -by Ronald J. Cappuccio, J.D., LL.M.(Tax)

Applicable Federal Rates for September 2016  Rev Rul 2016-20 The Applicable Federal Rates for September 2016 are reproduced below. Table 1 Applicable Federal Rates (AFR) for September 2016 Period for Compounding Annual Semiannual Quarterly Monthly Short-Term AFR .61% .61% .61% .61% 110% AFR .67% .67% .67% .67% 120% AFR .73% .73% .73% .73% 130% AFR .79% .79% .79% .79% Mid-Term AFR 1.22% 1.22% 1.22% 1.22% 110% AFR 1.34% 1.34% 1.34% 1.34% 120% AFR 1.47% 1.46% 1.46% 1.46% 130% AFR 1.60% 1.59% 1.59% 1.58% 15...

The CARD Act - New Rules for Credit Cards The CARD Act , the Credit Card Accountability, Responsibility and Disclosure Act,signed into law on May 22, 2009, supposedly will provide increased consumers protection.Most of the changes go into effect after February 22, 2010. Already, many credit card issuers have increased rates, fees and have taken an immediate defensive posture. Probably, when CARD takes effect, the Banks will have worked around the so-called protections. Hopefully, not too many people will be shut out of credit cards. Ronald J. Cappuccio , J.D., LL.M. (Tax)