Excerpt: This alert outlines the recently passed 'Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010' .... The Tax Act extends the Bush tax cuts for two more years, allows a 2% cut in payroll tax and self-employment tax for 2011, provides for a two-year patch on the Alternative Minimum Tax problem, extends the child tax credit and higher education tax credits [and extends several tax benefits set to expire.]