I am stumped by where to find the Federal Short Term Rate, an
interest rate posted by the Secretary of Treasury every month, based on the
statutory definition found at 26 USCA 1274(d). I've found it defined in the
USC, the IRS uses it as a basis for computation, on a quarterly basis, of
the penalty interest rate for unpaid taxes (and issues the rate they use in
a ruling which is easily locatable in various places). The Secretary of
Treasury refers to the Federal Short-Term Rate in his speeches, but I cannot
find a publication of that rate anywhere (searched Internet via Alta Vista,
Westlaw (statutes, regs), looked at Federal Reserve Bulletin, US Treasury
web site, OCC Web site, IRS Web site, Wall Street Journal, New York Times,
all to no avail). Anyone found this before or did I just miss it in
something?
Karl T. Gruben voice - 713-758-2679
Vinson & Elkins fax - 713-615-5211
1001 Fannin St. email - kgruben@velaw.com
Houston, TX 77002-6760
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