Michigan is swiftly providing families with rebate checks averaging $550 in just five days
Michigan to Provide $550 Checks to Eligible Taxpayers
In just five days, the state of Michigan will be sending out checks worth an average of $550 to eligible taxpayers. This initiative is part of the state’s expansion of the working families tax credit, aimed at providing financial support to households.
Over the course of five to six weeks, approximately 700,000 households will receive these payments on a rolling basis, starting from Tuesday. The checks will be based on 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 legislation approved in 2023.
Michigan officials anticipate that this expanded tax credit will result in an average tax refund of $3,150 for eligible residents in 2022. Starting from tax year 2023, the 30% rate for the working families tax credit will be included in regular tax refunds.
Putting Money Back in the Pockets of Michigan Families
“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,” said Governor Gretchen Whitmer (D-MI) in a statement. “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.”
Eligible residents will automatically receive the checks, without the need for any additional paperwork. For more information about the working families tax credit, visit the Michigan Department of Treasury website.
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