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What does line 9 part II IRS Form 673 mean? My annual rent

What does line 9 part...
What does line 9 part II IRS Form 673 mean?
My annual rent is 23800
My annual utilities are 6000
Total 29800
My housing allowance is 29848
The difference is -48
I don't understand line 9 saying "This is your estimated housing cost amount
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Answered in 1 hour by:
1/1/2013
Anne
Anne, Master Tax Preparer
Category: Tax
Satisfied Customers: 2,439
Experience: Enrolled Agent with 25 Years Experience specializing Individual and Small Businesses
Verified
Hi

Thank you for using justanswer. The purpose of the 673 form is to let your US employer know that you will qualify for the Foreign Earned Income Exception (Form 2555) and you expect that you will not owe US tax on any of the income you receive while working overseas.

Without this form, your employer would be obligated to withhold 30% on your income.

Having a negative figure on line 9 Part II just shows that none of your housing allowance would be taxable either, so again, there's no need for your employer to with 30% on your housing allowance .

Please see page 8 for more in depth information:

2012 Publication 54 - Internal Revenue Service

I truly hope this information is helpful but please do not rate until you are satisfied. If you want to click on 1 or 2 just click on the continue to work with me button instead. You will then be able to add any other info or respond to what I have posted so far. Rating 3-5 gives me credit and a good rating but you can still converse with me.



Anne
Anne, Master Tax Preparer
Category: Tax
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Experience: Enrolled Agent with 25 Years Experience specializing Individual and Small Businesses
Verified
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Anne
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