- Michigan residents have until April 18, 2023 to file their taxes or Oct.16, 2023 if they file for an extension.
- Individuals who request an extension must still pay any taxes owed on April 18.
- Refunds are processed within two or six weeks after the state confirms it has received your tax return.
Tax season can be stressful for a lot of people, so it is understandable if you haven’t filed your taxes yet, but there is still time.
The state individual income tax deadline is Tuesday April 18. Tax payers must have their tax return submitted electronically or postmarked by midnight.
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How can I file my taxes?
The Michigan Department of Treasury recommends that individuals file their taxes electronically because it is faster and more convenient. People who file their taxes electronically have a higher chance of receiving their refund more quickly.
Individuals have the option to purchase software that allows them to e-file themselves or find a trusted tax preparer. One way to find one is by using the IRS Authorized e-file Provider Locator.
If I need an extension what do I do?
Taxpayers who need more time can fill out a form to request an extension for state or federal taxes which must be submitted by April 18. An extension gives the individual an additional six months to file their taxes. Any taxes owed must still be paid by April 18 to avoid further penalties. However, individuals can apply to be put on a payment plan with the IRS.
When is the deadline to file if I have an extension?
The last day to file with an extension is Oct. 16, 2023.
How long does it take for my refund to come?
Individuals who file their taxes electronically can expect to receive their refund two weeks after the state confirms their tax return was received, according to the Michigan Department of Treasury. Individuals who file a paper return can expect their refund within six weeks of receiving confirmation from the state.
How do I know when I received my refund?
Taxpayers can check the status of their return online.
Which tax credits or deductions do I qualify for?
A tax credit reduces the amount of taxes that an individual owes based on certain criteria like their income level or how many dependents they claim.
- The Earned Income Tax Credit is an additional credit for individuals who make below a certain income. Eligible individuals can receive up to $2,080.
- The American opportunity tax credit provides tax paying students or parents who claim their children who are attending school as dependents with a $2,500 credit for tuition, course materials and other fees associated with higher education. This credit can be used for the first four years of higher education.
A tax deduction is a specific amount of money that can be deducted from your taxable income to reduce the amount of taxes you owe. There are also some deductions for seniors such as:
- Michigan standard Deduction is for taxpayers over the age of 67 who make less than $20,000 if they are single or married filing separately or $40,000 for a joint return.
Individuals who have additional questions about their taxes can visit the IRS website.