The expansion of the working families tax credit will result in families in Michigan receiving a check worth up to $550.
The checks to be received due to the expansion of the working families tax credit will be sent out next month. (Photo: WGRT)
Expansion Of The Working Families Tax Credit
Michigan is implementing an expansion to the working families tax credit, which will result in eligible households receiving a check worth an average of $550 in 20 days.
Approximately 700,000 households in the state will receive these working families tax credit, which will be the difference between the 6% tax credit on 2022 tax refunds and the new 30% credit.
The state will start sending out working families tax credit on February 13th, with checks being distributed over a five- to six-week period. This increased working families tax credit will provide an average tax refund of $3,150 to 700,000 families for the 2022 tax year.
According to a published article SmartNews, the higher 30% rate for the working families tax credit will also be applied to regular tax refunds for the 2023 tax year.
Governor Gretchen Whitmer has stated that this expansion of the working families tax credit will put money directly back into the pockets of Michigan families, benefiting half of the state’s children.
Eligible residents will automatically receive the working families tax credit without needing to complete any additional paperwork.
Eligibility Check For The Workers
In a published article by Bridge Michigan, the Michigan Department of Treasury will verify eligibility and process the checks for eligible workers. The checks will be mailed starting from February 13, and it is estimated that it will take about five to six weeks to distribute all the payments.
The Earned Income Tax Credit is designed to benefit working residents with low incomes, and the amount of the credit depends on household income and the number of dependent children in the household.
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