Why Are Some Michigan Taxpayers Getting Refund Checks This Week?
You may have heard that Michigan is rolling out refund checks to some Michigan taxpayers beginning this week. But is your family eligible to receive one?
Working Families Tax Credit
Beginning today (2/13), the Michigan Department of Treasury will begin sending out checks to Michigan taxpayers who qualify for the Michigan Families Tax Credit.
The checks will be sent out to over 700,000 Michigan households as part of $1 billion in tax cuts. (The Department of Treasury will mail the checks to the most recent addresses it has on file.)
All checks will be mailed out over a five to six-week period.
How Much Should Michigan Taxpayers Expect to Receive?
It's estimated that Michigan families who qualify for the one-time tax refund will receive an average of $550 per household.
Who is Eligible for the Michigan Working Families Tax Credit?
Qualification for the Michigan Working Families Tax Credit will be based on 2022 tax returns. The amount of the check issued to each family will be the difference between the 6% tax credit residents received on that year's tax return and the 30% tax return that is owed to them under the new law.
The Michigan Department of Treasury will determine who is eligible and residents will not have to fill out paperwork or go through an application process to qualify.
Additional Requirements for Eligibility:
In order to qualify for the tax refund, Michigan taxpayers will have to meet some eligibility requirements like having an income under $63,398 and investment income less than $11,000 during 2023. The full details for qualifying taxpayers can be found here.
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