According to IR-2012-78 the foreign earned income exclusion will rise to $97,600 for 2013. This is up from $95,100 in 2012 and is part of the IRS' annual inflation adjustment to over two dozen tax provisions.

Needless to say, with the global workforce many employ today it is imperative that you use this time of the year, the proverbial year-end calm before the filing storm, to make sure that you are updated on exactly such provisions; and make the corresponding reporting adjustments as needed going forward. Look for more on this issue in Revenue Procedure 2012-41; which you can expect to see from the IRS in coming weeks.