Standard deduction

Anyone who's bought groceries, filled their gas tank or paid insurance premiums recently would probably be surprised to learn that the rate of inflation is relatively flat -- only 1.2 percent from September 2012 to September 2013.That's bad news for people who were hoping to boost their contributions to an IRA, 401(k) plan or other tax-advantaged retirement savings accounts.
The IRS announced 2013 cost-of-living adjustments to many of the amounts you and your employer can contribute toward your retirement accounts. Here are highlights of what will and won't change in 2013.
With refundable tax credits, if you owe less in income tax than your eligible tax credit(s), not only do you pay no tax, but