Treasury Regulations · 26 CFR
§ 301.6316-8. Refunds and credits in foreign currency.
Regulation text, no changes From the eCFR, current as of October 15, 2026. The eCFR is an authoritative but unofficial editorial compilation of the Code of Federal Regulations; the official text is the annual CFR on govinfo. Compare it with this section on ecfr.gov (external site) or the official annual CFR on govinfo (external site).
Regulation under 26 U.S.C. § 6316
Cite as 26 CFR § 301.6316-8
At a glance
Read from the text and its source citation. Not part of the regulation.
- Status
- In the current eCFR
- Source
- 32 FR 15241, Nov. 3, 1967, unless otherwise noted.
- Issued under
- 26 U.S.C. § 6316
- Length
- 171 words · about 1 min to read
- Cross-references
- cites 1 Code section and 2 regulations; cited by 1
¶(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.
Cross-references
Computed from the citations in the text of 26 CFR.
Code sections it cites
Regulations it cites
- § 301.6316-1 Payment of income tax in foreign currency.
- § 301.6316-7 Payment of Federal Insurance Contributions Act taxes in foreign currency.
Cited by 1 other regulation
Where it sits in 26 CFR
- Subchapter F Procedure and administration
- Part 301 Procedure and administration
- Subpart ECFR906a9cbafe6b4af Collection
- General Provisions
Nearby sections
- § 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 foreign currency.
- § 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 of Federal tax lien.
- § 301.6321-1 Lien for taxes.
- § 301.6323(a)-1 Purchasers, holders of security interests, mechanic's lienors, and judgment lien creditors.