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Michigan $550 Tax Credit – When and who will receive it?

Michigan residents who qualify for the Michigan Earned Income Tax Credit (EITC) can expect to receive their checks in the mail starting from February 13, 2024. The Michigan EITC is 30% of the federal credit and is adjusted yearly based on inflation.

Michigan $550 Tax Credit

Residents eligible for the Michigan Earned Income Tax Credit (EITC) can anticipate receiving checks in the mail beginning February 13, 2024. 

The distribution is estimated to span six weeks, with some qualifying individuals possibly receiving their checks by the end of March 2024. 

Payments, averaging $550 per household, vary based on the number of eligible children. The Michigan EITC, set at 30% of the federal credit, is annually adjusted for inflation. The 2024 mailed checks will cover the remaining 24% of the tax credit.

Michigan $550 Tax Credit Eligibility

To be eligible for Michigan $550 tax credit, check the following: 

  • You must have filed a Michigan tax return for 2022 and claimed the federal Earned Income Tax Credit (EITC).
  • You must have been a Michigan resident or part-year resident throughout 2022.
  • Individuals: Your 2022 earned income must have been below $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
  • Married couples: Your combined 2022 earned income must have been below $59,187.
  • Non-residents with taxable Michigan income may also qualify.
  • Investment income must be below $11,000.

Michigan $550 Tax Credit

Michigan $550 Tax Credit Timeline

The distribution of the Michigan Earned Income Tax Credit checks (the $550 tax credit) is still 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 still being sent out on a rolling basis.

What it means for you:

  • If you qualify for the credit and your address is correct, you don’t need to take any action. Your check will arrive in the mail eventually.
  • It can take up to six weeks to receive your check, so waiting until at least mid-March before considering further action is recommended.
  • Unfortunately, there’s no online tool to track the specific status of your check as of now.

What to do if you don’t receive your Michigan $550 Tax Credit on time?

The Michigan Department of Treasury is sending the checks out on a rolling basis and doesn’t provide individual status updates online. 

Wait for the mail:

  • As mentioned earlier, distribution started on February 13th, 2024 and can take up to six weeks. So, if you haven’t received your check yet, don’t worry. It might still be on its way.
  • Ensure your address on file with the Treasury is accurate. You can update it by filling out this form:

Contact the Michigan Department of Treasury:

  • After six weeks have passed and you haven’t received your check, you can contact the Treasury for assistance.
  • Do not contact them before six weeks are up, as they won’t be able to provide any personalised information before then.
  • You can reach them by phone at (517) 636-5050 or by email.

Michigan $550 Tax Credit Benefits 

Here are some potential uses:

  • Food: Help cover groceries and essential food items.
  • Housing: Contribute towards rent or mortgage payments, preventing potential housing insecurity.
  • Utilities: Assist with paying electricity, water, and gas bills.
  • Transportation: Help maintain personal vehicles or cover public transportation costs.
  • Healthcare: Contribute towards medical bills, prescriptions, or health insurance premiums.

What is the maximum amount of Michigan earned income tax credit I can receive?

The maximum amount of Michigan Earned Income Tax Credit (EITC) you can receive depends on several factors,including:

Your Earned Income:

  • This includes wages, salaries, and self-employment income. There’s a minimum and maximum earned income range for various family situations to qualify for the maximum credit.

Your Filing Status:

  • Whether you file as single, married filing jointly, head of household, or married filing separately can impact the maximum credit amount.

Number of Qualifying Children:

  • Having more qualifying children can increase the maximum credit you can receive.

Maximum Michigan EITC amounts for the 2022 tax year (which you’ll receive in 2024):

Filing Status Number of Qualifying Children Maximum Michigan EITC
Single/Married Filing Separately 0 $600
1 $3,995
2 $6,604
3 or more $7,430
Married Filing Jointly 0 $600
1 $3,995
2 $6,604
3 or more $7,430
Head of Household 0 $600
1 $3,995
2 $6,604
3 or more $7,430

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