Today the I.R.S. published Notice 2012-19, which provides adjustments to the limitation on housing expenses for specific locations in 2012. Code §911(a) allows a qualified individual to elect to exclude from gross income an “Exclusion Amount” related to foreign earned income and a “Housing Cost Amount”. The Exclusion Amount for 2012 is $95,100. The Housing Cost Amount is generally defined as an amount equal to the excess of (A) the “Housing Expenses” of an individual... Read more →