IRS Exchange Rate
Jan 11th 2017, 10:40 pm
#1
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Thread Starter
Joined: Mar 2015
Location: NC, USA (ex Yorkshire)
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IRS Exchange Rate
Is anyone aware of when the IRS is likely to publish the 2016 exchange rates?
https://www.irs.gov/individuals/inte...exchange-rates
Cheers
https://www.irs.gov/individuals/inte...exchange-rates
Cheers
Jan 11th 2017, 10:53 pm
#3
Concierge
Joined: Apr 2001
Posts: 46,383
Re: IRS Exchange Rate
From your link:
Currency exchange rates
The Internal Revenue Service has no official exchange rate. Generally, it accepts any posted exchange rate that is used consistently.
Currency exchange rates
The Internal Revenue Service has no official exchange rate. Generally, it accepts any posted exchange rate that is used consistently.
Jan 11th 2017, 10:55 pm
#4
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Joined: Mar 2015
Location: NC, USA (ex Yorkshire)
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Re: IRS Exchange Rate
Thanks - XE it is then!
Jan 12th 2017, 2:05 am
#5
Joined: Apr 2005
Location: Milwaukie, Oregon
Posts: 9,965
Re: IRS Exchange Rate
Last year IRS had published their rate by January 15th. The IRS rate is the one to use as they use the rate you are likely to get from a bank, not the mid rate. Going by previous years I am hoping the IRS rate for 2016 will be about $1.2950.
Last edited by lansbury; Jan 12th 2017 at 2:19 am.
Jan 12th 2017, 8:24 am
#6
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Re: IRS Exchange Rate
Correct. The IRS use cash rates, not Interbank rates. The FBAR rate is usually published about the same time.
Jan 12th 2017, 2:19 pm
#7
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Location: Athens GA
Posts: 2,134
Re: IRS Exchange Rate
