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March 14, 2023
2023-0479

IRS adjusts IRC Section 911 limitation on housing expenses for 2023 tax year

In Notice 2023-26, the IRS provides adjustments to the limitation on housing expenses for IRC Section 911 purposes for the 2023 tax year. These adjustments are based on geographic differences in housing costs relative to housing in the United States. The IRS notes that if a housing expense limit is higher for the 2023 tax year than the adjusted limitation on housing expenses were under Notice 2022-10, qualified taxpayers may apply the adjusted limitations in Notice 2023-26 to their 2022 tax year.

Published by NTD’s Tax Technical Knowledge Services group; Carolyn Wright, legal editor