Several provisions in the American Recovery and Reinvestment Tax Act of 2009 provide temporary tax relief to individuals and families. Eligible tax payers are provided with a 6.2 percent tax credit on earned income or $400, whichever is less. This amount is $800 for joint filers. This tax credit expires after 2010. This credit is further reduced for tax payers earning more than $75,000 ($150,ooo joint filers).
