FINANCE
$550 tax refund check: Which state and who qualifies?
More than 700,000 families will enjoy the funds distributed in Michigan, a payment billed as part of the state’s Earned Income Tax Credit.
Gretchen Whitmer, governor of Michigan, last year approved an economic law that precedes the refund of a total of $550 to more than 700,000 families that paid their taxes in 2022.
This new check is part of the state’s Earned Income Tax Credit (ETIC). This process pays eligible families $2,080 in the state of Michigan. If you qualify for the federal EITC, you qualify for the Michigan EITC, provided you are a resident of course.
“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 in a statement.
“We still have more work to do, and today’s announcement will help get you some relief sooner than expected. Let’s keep rolling up our sleeves, lowering costs, and growing our economy.”
To receive this check, you will need to have successfully claimed the Michigan Earned Income Tax Credit for Working Families and qualify for the federal Earned Income Tax Credit for tax year 2022.
When will payments be received?
According to the government agency, these checks will begin to be issued on 13 February. This process will last between five and six weeks.
The Michigan Department of Treasury will issue these refunds automatically, which means that recipients will not have to make any additional request to deposit said check. The state government indicates that you must be up to date with tax payments to receive said amount.