The Michigan Department of Treasury is set to start sending payments worth an average of $550 to eligible taxpayers in eight days as part of a recently enacted expansion to the working families tax credit.
The state says that payment will go out to approximately 700,000 households beginning on Feb. 13 via an expanded tax credit being sent out on a rolling basis over a five-to-six-week period.
Residents will get a payment equal to the difference between the 6% working families tax credit included in an eligible resident’s 2022 tax refunds and the 30% value that the credit is worth under the new legislation approved last year.
The check will automatically be sent to eligible residents, with the state saying that taxpayers do not need to fill out any additional paperwork.
The expanded tax credit is set to give eligible residents an average of a $3,150 tax refund for 2022, per state officials. The increased 30% rate for the working families tax credit will be factored into tax refunds for 2023 and beyond.
“By quintupling the working families tax credit, we’re putting an average of $550 back in the pockets of 700,000 Michigan families ahead of schedule,” Gov. Gretchen Whitmer (D-MI) said in a statement about the expanded tax credit in December 2023.
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“This directly benefits half the children in Michigan, and moms and dads can use this extra money at tax time to pay the bills, put food on the table, and buy school supplies,” she added.
Further details about the expanded tax credit can be found on the Michigan Department of Treasury website.
