Michigan to distribute $550 rebate checks to families in just 11 days
Michigan Department of Treasury to Distribute Payments to Eligible Taxpayers
In just 11 days, the Michigan Department of Treasury will begin an exciting initiative to distribute payments worth an average of $550 to eligible taxpayers. This expansion of the state’s working families tax credit is set to benefit approximately 700,000 households over a five-to-six-week period, starting on February 13.
The amount each resident will receive in their payment may vary, but it will be determined by the difference between the 6% working families tax credit included in their 2022 tax refunds and the enhanced 30% value established by the new legislation passed last year.
State officials have revealed that eligible residents can expect an average tax refund of $3,150 for 2022, thanks to the expanded tax credit. Furthermore, the increased 30% rate will continue to impact tax refunds in 2023 and beyond.
Putting Money Back in the Pockets of Michigan Families
“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,” declared Governor Gretchen Whitmer (D-MI) in a statement about the expanded tax credit in December 2023. She emphasized that this initiative directly benefits half of the children in Michigan, providing parents with extra funds to cover bills, put food on the table, and purchase school supplies.
Eligible Michiganders can rest assured that they will receive the payment automatically, without the need for any additional paperwork. For more information about the expanded tax credit, please visit the Michigan Department of Treasury website.
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According to Governor Gretchen Whitmer, how will the expanded working families tax credit program benefit Michigan families and their children
The Michigan Department of Treasury has announced an upcoming initiative that aims to distribute payments to eligible taxpayers. Starting on February 13, over a five-to-six-week period, approximately 700,000 households in Michigan will benefit from this expansion of the state’s working families tax credit, with payments averaging around $550.
The specific amount that each resident will receive may vary, as it will be determined by the difference between the 6% working families tax credit included in their 2022 tax refunds and the enhanced 30% value established by the new legislation passed last year.
State officials have shared that eligible residents can expect an average tax refund of $3,150 for 2022, thanks to the expanded tax credit. Furthermore, this increased 30% rate will continue to impact tax refunds in 2023 and beyond.
Governor Gretchen Whitmer (D-MI) highlighted the significance of this initiative in a statement made in December 2023. She emphasized that by quintupling the working families tax credit, an average of $550 will be returned to the pockets of 700,000 Michigan families ahead of schedule. This program directly benefits half of the children in Michigan and provides parents with additional funds to cover bills, purchase food, and acquire school supplies.
Eligible Michiganders can look forward to receiving the payment automatically, without the need for any additional paperwork. For more detailed information about the expanded tax credit and its impact, individuals are encouraged to visit the Michigan Department of Treasury website.
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