Part 5. Collecting Process
Chapter 21. International and Insular Issues
Section 4. Payments Made in Foreign Currency
November 27, 2013
(1) This transmits a revision of IRM 5.21.4, Payments Made in Foreign Currency, for collection employees.
(1) This IRM is revised to make minor grammatical corrections, update organization terms and/or titles, and correct cross references.
IRM 5.21.4 supersedes IRM 5.21.4, dated 2/17/2009
Director, Collection Policy
Publication 54 advises taxpayers that they must pay their taxes in U.S. dollars. However, sometimes a taxpayer will send a payment in foreign currency and is unable or unwilling to substitute the payment for one in U.S. dollars.
Use Form 3244, Payments Posting Voucher, to post a payment made in foreign currency.
Prepare Form 3244 as follows:
Write the applicable transaction code, amount, and type of currency in the remarks section.
Leave the amount line blank.
Attach Form 3244 and the payment to the daily Form 795.
The payment will be stripped from Form 795 and transhipped to the appropriate Campus for processing by Campus Receipt and Control.
Taxpayers may make payment by a credit card issued by a foreign bank, provided it is a credit card accepted by IRS processors, e.g., Visa or Mastercard.
Taxpayers who reside outside the United States may pay federal tax payments by electronic transfer.
See IRM 126.96.36.199.4.3, Federal Tax Application (FTA) Same-day Wire, for guidelines on making federal tax payments by electronic transfer.