The nearly-$790-billion American Recovery and Reinvestment Act has quite a few provisions whereby millions of taxpayers can stand to benefit if they can gain proper guidance.

The $400 tax credit would probably not be a "check-is-in-the-mail stimulus" for most individuals. However, with professional guidance, taxpayers can get their due credits and deductions.

In the opinion of Amy McAnarney, executive director of The Tax Institute at H&R Block, "The Recovery Act gives taxpayers money to spend, incentives to spend it and choices to spend it on. There are provisions that pay you now and some that pay you later."

The immediately-beneficial provision includes the Making Work Pay tax cut, which would boost the earnings of workers, non-workers, unemployed and retirees through a reduction in income tax maintenance. Moreover, some Social Security and SSI recipients, railroad retirees, and disabled and retired veterans would qualify for a one-time payment of $250.

Taxpayers, who are potential first-time homebuyers, can consider the $8,000 tax credit, for which they can qualify if they purchase a home between January 1, 2009 and November 30, 2009.

Among other significant provisions are an expanded Child Tax Credit; deduction of sales or excise taxes for new car buyers; a $7,500 tax credit for buyers of plug-in hybrid vehicles; increased Earned Income Credit for families with three or more children; and the new, partially refundable $2,500 American Opportunity Tax Credit for college tuition in 2009 and 2010.