The IRS and Social Security Administration have released cost-of-living (COLA) adjustments that apply to dollar limitations set forth in certain IRS Code Sections. The Consumer Price Index rose enough since the third quarter of last year to warrant an increase in some indexed figures for 2013.
To view the updated inflation adjustment charts click here.
Items affected:
Social Security and Medicare Wage Base
Indexed Compensation levels
401(k) Plans
Health FSA
Adoption Credit
Health Savings Account (HSA)
Archer Medical Savings Account (MSA)
Dependent and/or Child Day Care Expenses
Commuter Accounts
Long-Term Care
Standard Mileage Rates
