700K MI Households Will Get Tax Credit Check In 2024: Whitmer

MICHIGAN — More than 700,000 Michiganders will get a check next year after Gov. Gretchen Whitmer signed $1 billion of tax cuts into law earlier this year, according to the governor's office.

Those who qualify for the Working Families Tax Credit as part of their 2022 tax return will get a check that averages to around $550, starting in February 2024, according to the governor's office.

Michiganders who earned income under $63,398 and have investment income below $11,000 meet the basic qualifications for the federal Earned Income Tax Credit, according to the Internal Revenue Service.

"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," Whitmer said Thursday in a statement.

In March, Whitmer signed legislation quintupling the Michigan Working Families Tax Credit match of the federal Earned Income Tax Credit to 30 percent from 6 percent, dropping state revenues by about $385 million a year.

The checks will be the difference between the 6 percent tax credit they received on their tax return and the 30 percent that is owed under the new law, averaging to roughly $550, according to the governor's office.

Michiganders who are eligible for the checks do not need to submit any paperwork, unless a taxpayer has concerns about the accuracy of the address on file with the state. If that is the case, the taxpayer can manually update their information here, or with the Michigan Department of Treasury.

The state Department of Treasury will automatically process refund checks for those who submitted their 2022 tax return and confirmed eligibility for the additional state credit. Checks will be mailed on a rolling basis as soon as they are printed, according to the governor's office.

Officials believe it will take between five and six weeks to print and distribute all the payments.

Officials also said Michiganders should still apply for the expanded tax credit if they meet the criteria this year. It's possible for Michiganders to receive both the additional EITC check from their 2022 tax return and also receive the full 30 percent tax credit on their 2023 tax filing when they file next year, according to the governor's office.