United States - IRS releases adjusted limitations for Section 911 foreign housing exclusion

Global Watch ()

The Internal Revenue Service (IRS) recently issued Notice 2012-19 to provide adjustments to the Foreign Housing Exclusion limitations provided under Internal Revenue Code Section 911(c)(2)(B). The adjusted limitations are based on geographical locations and are used to determine the housing exclusion or deduction for tax years beginning after January 1, 2012. Taxpayers may also elect to apply the 2012 adjusted limitations to tax years beginning in 2011. Notice 2012-19 supersedes previously released Notices 2006-87, 2007-25, 2007-77, 2008-107, 2010-27, and 2011-8.