Stimulus update: Michigan sending rebate checks averaging $550 to families in 22 days

Michigan is set to send checks worth an average of $550 to roughly 700,000 households in the Great Lakes State as part of an expansion to the working families tax credit in 22 days.

The state is sending eligible Michiganders a payment that is 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 worth under legislation signed last year.

The checks are scheduled to be sent by the state beginning on Feb. 13 on a rolling basis over a five- to six-week period, according to the state. The combined value of the tax credit will provide residents with an average of a $3,150 tax refund to 700,000 families in the state for tax year 2022.

“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 in December. “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.”

Residents will not have to fill out an additional form to receive the additional tax credit, as the Michigan Department of Treasury says it will automatically send eligible taxpayers the payment.

CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER

The increased 30% rate for the working families tax credit is in place for the tax year 2023, meaning it will be part of tax refunds that are given by the state later this year to eligible residents.

More information about Michigan’s expanded tax credit and eligibility can be found on the state’s website.

Facebook
Twitter
LinkedIn
Telegram
Tumblr