"700K Michigan Households to Receive $550 Tax Credit Checks in 2024: What You Need to Know"

More than 700,000 households in Michigan will receive an average of $550 in tax credit checks starting in February 2024 as part of $1 billion in tax cuts signed into law earlier this year. The checks are a result of the expansion of the Working Families Tax Credit, which was quintupled to 30% of the federal Earned Income Tax Credit. Eligible residents who qualify for the credit should apply this year and will receive the additional tax credit check from their 2022 tax return. The Department of Treasury will automatically process the checks, which will be mailed on a rolling basis.