The Michigan Department of Treasury will begin issuing payments of around $550 to eligible taxpayers in eight days. This is part of an expansion to the working families tax credit. Payments will start on Feb. 13 and will be sent out to about 700,000 households over five to six weeks.
Residents will receive a payment representing the difference between the 6% working families tax credit in their 2022 tax refunds and the new 30% value approved last year. Eligible residents will automatically receive the payment without filling out any additional paperwork.
The expanded tax credit is expected to give eligible residents an average tax refund of $3,150 for 2022. The increased 30% rate for the working families tax credit will be reflected in tax refunds for 2023 and beyond.
Governor Gretchen Whitmer commented on the expanded tax credit, stating that it will provide an average of $550 to 700,000 Michigan families ahead of schedule. She emphasized that this will directly benefit many children in the state, allowing families to cover expenses, buy food, and purchase school supplies with the extra money.
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