Michigan Gov. Gretchen Whitmer announced that around 700,000 eligible residents in the state will receive an average amount of $550.
$550 in Earned Income Tax Credit will be sent to eligible residents in Michigan. (Photo: Marca)
$550 for Eligible Residents in Michigan
The administration of Gov. Gretchen Whitmer will send an average amount of $550 to eligible households in the state through the Earned Income Tax Credit (EITC). It is estimated that there will be around 700,000 households that will benefit from the extra money.
In a published article in The Detroit News, Gov. Whitmer approved the checks in March and the new law decreased the taxes on retirement income while boosting the Earned Income Tax Credit. Moreover, this will benefit low- and moderate-wage workers, from 6% of the federal EITC to 30% of the federal credit.
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Gov. Whitmer’s Statement on $550 EITC Tax Refund
According to an article published in BRIDGE MICHIGAN, Gov. Whitmer said, “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.”
Furthermore, the new law requires that the tax refund be released as soon as possible. The governor’s office also added that those who qualify for the Earned Income Tax Credit will receive an average amount of $550 based on the data from the previous tax returns.
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