The American Recovery Plan Help - taxes, credits, child, health, package stimulus, benefits

During these tough economic times, Recovery Act tax cuts are making things a little easier for hard-hit middle class families.

Did you know that there are more than a dozen Recovery Act tax cuts working families can take advantage of this tax season? For some taxpayers, this could mean thousands of dollars in tax savings.

The Recovery Act includes many money-saving benefits for Americans. So it's important to get the facts straight. Browse through each section below to learn about the current programs available. But be sure to also consult the applicable IRS forms and instructions, or speak to a tax professional to determine your eligibility for these benefits.

Your Guide to Recovery Act Benefits

Working Americans The Making Work Pay Tax Credit $400 (single)/$800 (Married Filling Jointly) If you filed as single and made less than $95,000 in 2009, or filed jointly and made less than $190,000, then you may be one of the 110 million working Americans qualify... read more		Education American Opportunity Credit Up to $2,500 Did you or your child have college expenses in 2009? If so, you or your child may be eligible to collect an American Opportunity Tax Credit of up to $2,500 through the Recovery... read more

New homeowners First-Time Homebuyer Credit Up to $8,000 Under the 2009 Recovery Act, if you purchased a new home in 2009 or 2010, you may be eligible to collect a First-Time Homebuyer Tax Credit of up to $8,000 – if you... read more		Home improvements Residential Energy Credits Up to $1,500 Did you make improvements to your home last year that make it more energy efficient? If so, you may be able to claim a nonbusiness energy property credit of 30% of the cost... read more

New car or truck Sales Tax Deduction for Vehicle Purchases Did you buy a new car, light truck or motorcycle in 2009? If so, you may get back some of those taxes or fees you paid when you bought your new vehicle. read more		Unemployed americans Unemployment Benefits Up to $2,400 tax-free Did you collect unemployment benefits in 2009? If so, you can take advantage of a special Recovery Act tax exemption that makes your first $2,400 in benefits tax-free. That... read more

Health Benefits COBRA Health Insurance Subsidy The American Recovery and Reinvestment Act established this subsidy to help workers who lost their jobs as a result of the recession maintain their employer sponsored health... read more		Parents Child Tax Credit Up to $1,000 per child If you had any dependent children in 2009, you may be eligible for a Child Tax Credit ip to $1000. The Child Tax Credit is a valuable credit that can significantly reduce... read more