Treasury Regulations (26 C.F.R.)
26 CFR § 301.6316-8
Refunds and credits in foreign currency.
# (a) Refunds.
The refund of any overpayment of tax which has been paid under section 6316 in foreign currency may, in the discretion of the Commissioner, be made in the same foreign currency by which the tax was paid. The amount of any such refund made in foreign currency shall be the amount of the overpayment in U.S. dollars converted, on the date of the refund check, at the rate of exchange then used for his official disbursements by the disbursing officer of the Department of State in the country where the foreign currency was originally deposited.
# (b) Credits.
Unless otherwise in the best interest of the Internal Revenue Service, no credit of any overpayment of tax which has been paid under section 6316 in foreign currency shall be allowed against any outstanding liability of the person making the overpayment except in respect of that portion or the liability which, in accordance with § 301.6316-1 or § 301.6316-7, would otherwise be permitted to be paid in the same foreign currency.
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In this part (40 sections)
- 301.6241-6 · Coordination with other chapters of the Internal Revenue…
- 301.6241-7 · Treatment of special enforcement matters.
- 301.6301-1 · Collection authority.
- 301.6302-1 · Manner or time of collection of taxes.
- 301.6303-1 · Notice and demand for tax.
- 301.6305-1 · Assessment and collection of certain liability.
- 301.6311-1 · Payment by check or money order.
- 301.6311-2 · Payment by credit card and debit card.
- 301.6312-1 · Treasury certificates of indebtedness, Treasury notes, and…
- 301.6312-2 · Certain Treasury savings notes acceptable in payment of…
- 301.6313-1 · Fractional parts of a cent.
- 301.6314-1 · Receipt for taxes.
- 301.6315-1 · Payments of estimated income tax.
- 301.6316-1 · Payment of income tax in foreign currency.
- 301.6316-2 · Definitions.
- 301.6316-3 · Allocation of tax attributable to foreign currency.
- 301.6316-4 · Return requirements.
- 301.6316-5 · Manner of paying tax by foreign currency.
- 301.6316-6 · Declarations of estimated tax.
- 301.6316-7 · Payment of Federal Insurance Contributions Act taxes in…
- 301.6316-8 · Refunds and credits in foreign currency.
- 301.6316-9 · Interest, additions to tax, etc.
- 301.6320-1 · Notice and opportunity for hearing upon filing of notice…
- 301.6321-1 · Lien for taxes.
- 301.6323(a)-1 · (a)-1 Purchasers, holders of security interests,…
- 301.6323(b)-1 · (b)-1 Protection for certain interests even though…
- 301.6323(c)-1 · (c)-1 Protection for commercial transactions financing…
- 301.6323(c)-2 · (c)-2 Protection for real property construction or…
- 301.6323(c)-3 · (c)-3 Protection for obligatory disbursement agreements.
- 301.6323(d)-1 · (d)-1 45-day period for making disbursements.
- 301.6323(e)-1 · (e)-1 Priority of interest and expenses.
- 301.6323(f)-1 · (f)-1 Place for filing notice; form.
- 301.6323(g)-1 · (g)-1 Refiling of notice of tax lien.
- 301.6323(h)-0 · (h)-0 Scope of definitions.
- 301.6323(h)-1 · (h)-1 Definitions.
- 301.6323(i)-1 · (i)-1 Special rules.
- 301.6323(j)-1 · (j)-1 Withdrawal of notice of federal tax lien in…
- 301.6324-1 · Special liens for estate and gift taxes; personal…
- 301.6324A-1 · Election of and agreement to special lien for estate tax…
- 301.6325-1 · Release of lien or discharge of property.