Monday brings the start of tax season, as the Michigan Department of Treasury will start processing returns.
Treasury spokesperson Ron Leix tells us some people file right away, and they’re usually the ones expecting refunds.
There are some new things to know this year. For example, Leix says the retirement tax has been rolled back.
“The retirement tax has rolled back to 2012 levels,” Leix said. “There are a lot of layers to the retirement tax, so if somebody is retired and they’re filing their taxes this year, I strongly recommend them to please seek out a reputable tax preparer.”
Also, Leix says the Earned Income Tax Credit has gone up from 6% to 30%, meaning those who qualify for the federal EITC will get a 30% state match.
Leix tells us you can also now sign up to be an organ donor when filing taxes.
“You see this when you go to the Secretary of State to opt in to become an organ donor. You can now do that when you file your taxes. So, it’s an exciting time to file taxes in 2024.”
Leix says the most mistakes are made by those who file their taxes with paper, meaning you’re probably better off filing electronically. 90% of taxpayers do. For more tax tips, go to Michigan.gov/IncomeTax.
