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The mammoth stimulus package—the American Recovery and Reinvestment Act of 2009--includes some $300 billion in tax relief.  There are new tax breaks, along with additions to existing deductions and credits. 

There are plenty of tax provisions in this bill that you might be able to take advantage of.   Let’s run through the biggest and most important tax provisions geared towards hard-working individuals like you.

Next: First-Time Homebuyer Credit Extension and Increase