Michigan is sending out payments worth an average of $550 to eligible residents over the coming weeks as part of an expansion to the working families tax credit in the state.
Roughly 700,000 households are receiving their checks from the tax credit on a rolling basis over five to six weeks, according to state officials.
The payments going out over the next month and a half are 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 now worth under legislation signed into law last year.
The state claims that the expanded tax credit will give eligible residents an average $3,150 tax refund for 2022, with the 30% rate for the working families tax credit slated to be factored into regular tax refunds beginning with tax year 2023.
“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,” Whitmer added.
The checks will automatically go out to residents who qualify for the working families tax credit, with no additional paperwork required. More information about the working families tax credit is available on the Michigan Department of Treasury website.
