In 19 days, eligible households in Michigan will get a check from the state worth an average of $550 as part of an expansion to the working families tax credit.
Approximately 700,000 households will get one of the payments being sent out in the coming weeks, with distribution beginning on Feb. 13. The checks will begin going out on a rolling basis over a five- to six-week period, according to the state.
The payments going out to residents next month will be equal to the difference between the 6% working families tax credit on an eligible resident’s 2022 tax refunds and the 30% that the credit is now worth under legislation raising the credit signed last year.
The state says that 700,000 families will get an average of a $3,150 tax refund for tax year 2022 based on the combined value of the tax credit. The increased 30% rate for the working families tax credit will be included on regular tax refunds going out later this year for 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.
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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.
The Michigan Department of Treasury says that no additional paperwork is required to receive the payment, as eligible residents will automatically get the check. Further information about the state’s expanded tax credit is available on its website.