Michigan residents eligible for the Michigan Earned Income Tax Credit (EITC) will receive their checks by mail starting February 13, 2024. This credit amounts to 30% of the federal credit and is adjusted annually to account for inflation.
Michigan $550 Tax Credit
Residents eligible for the Michigan Earned Income Tax Credit (EITC) can expect to start receiving checks in the mail from February 13, 2024. The distribution process is anticipated to last around six weeks, with some recipients possibly getting their checks by late March 2024.
The payments, averaging $550 per household, differ depending on the number of eligible children. The Michigan EITC, which is 30% of the federal credit, is adjusted annually to reflect inflation. In 2024, the mailed checks will cover the remaining 24% of the tax credit
Michigan $550 Tax Credit Eligibility
To qualify for the Michigan $550 tax credit, ensure you meet the following criteria:
- File a Michigan tax return for 2022 and claim the federal Earned Income Tax Credit (EITC).
- Be a Michigan resident or part-year resident throughout 2022.
- For individuals: Your 2022 earned income should be under $16,480.
- For one child: $43,492 for single filers, $49,622 for joint filers.
- For two children: $55,529 for joint filers and $49,399 for single filers.
- For married couples: Your combined 2022 earned income must be below $59,187.
- Non-residents with taxable Michigan income may also qualify.
- Ensure your investment income is below $11,000.
Michigan $550 Tax Credit Timeline
The distribution of Michigan’s Earned Income Tax Credit checks (the $550 tax credit) is ongoing.Distribution Timeline:
- Start date: February 13, 2024
- Estimated completion: Up to six weeks after the start date (potentially by the end of March)
- Current status: Checks are continuously being sent out.
What it means for you:
- If you qualify and your address is correct, no action is needed; your check will arrive in the mail.
- It may take up to six weeks to receive your check, so it’s advisable to wait until at least mid-March before taking further steps.
- Unfortunately, there is currently no online tool available to track the specific status of your check.