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IRS Issues Notice on Determination of Housing Cost Amounts Eligible for Exclusion or Deduction for 2023

|Approved Changes|United States
United States

The U.S. IRS has issued Notice 2023-26, which provides the adjustments to the limitation on housing expenses for purposes of section 911 of the Internal Revenue Code for 2023. These adjustments are made on the basis of geographic differences in housing costs relative to housing costs in the United States. Section 911 allows a qualified individual to elect to exclude from gross income the forei…

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