In five days, Michigan is slated to send out checks worth an average of $550 to eligible taxpayers as part of the state’s expansion of the working families tax credit.
Approximately 700,000 households will receive payments beginning Tuesday on a rolling basis over five to six weeks, according to the state, as part of the tax credit.
The checks sent to eligible households will be 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 legislation approved in 2023.
Michigan officials claim the expanded tax credit will give eligible residents an average $3,150 tax refund for 2022. The 30% rate for the working families tax credit will be part of regular tax refunds beginning with tax year 2023, per the state.
“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.
“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.
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Eligible residents will receive the check automatically, with no additional paperwork needed to get the payment, according to the state.
Additional information about the working families tax credit can be found on the Michigan Department of Treasury website.
