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What is the Michigan Earned Income Tax Credit?
The EITC is a refundable federal tax credit that helps working people achieve economic stability and security. With the current economic downturn, the EITC is more important than ever for Michigan's working families. Estimates are that $12.3 to $49 million can be brought directly into the wallets of Michigan's working poor families through a successful outreach effort.
The Michigan earned income tax credit is based on the federal earned income tax credit. It will be equal to 20 percent of the federal credit. Limitations are the same as the federal EITC.
What is the Michigan Home Heating Credit?
The Home Heating Credit (HHC) is designed to assist low income families living in Michigan with the cost of heating their homes. The HHC is federally funded through the Low Income Home Energy Assistance Program (LIHEAP), U.S. Department of Health and Human Services. Under provisions set forth in the State Income Tax Act, the Department of Human Services (DHS) administers Michigan’s Energy Assistance programs, and the Michigan Department of Treasury processes the Home Heating Credit claim and issues payments. For further information, please refer to the LIHEAP website.
What is the Michigan Homestead Property Tax Credit?
Michigan's property tax credit is a way the State of Michigan helps you pay some of your property taxes if you are a qualified Michigan homeowner or renter. You should complete the Property Tax Credit Claim form (MI-1040CR) to see if you qualify for the credit. The credit, for most people, is based on a comparison between household income and property taxes. Homeowners pay property taxes directly and renters pay them indirectly with their rent.
You may claim a property tax credit if all of the following apply:
- Your homestead is in Michigan
- You were a resident of Michigan for at least six months during the year.
- You own/rent and occupy a Michigan homestead on which property taxes were levied.
- Your household income is less than $82,650
*For those looking to file either or both of these credits through state-only returns (which Just file it! cannot do without filing a federal return as well) you can find free tax-filing assistance information here.
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