As the 2024 income tax filing season approaches, the Michigan Department of Treasury is urging taxpayers to take a proactive approach by ensuring that their current and previous employers, as well as financial institutions, have up-to-date addresses on file. The initiative aims to streamline the tax filing process and prevent unnecessary delays caused by mailing documents to incorrect addresses.
“Michigan Taxpayers Urged to Verify Address Information for Smooth 2024 Tax Filing Season”
Deputy State Treasurer Glenn White, who oversees Treasury’s Revenue Services programs, emphasizes the importance of updating address information with employers and financial institutions. Correct addresses are crucial for the timely delivery of W-2s and other financial documents, and they play a pivotal role in preventing processing delays when taxpayers file their income taxes.
“Updating your address with current and past employers and financial institutions can help prevent any unnecessary processing delays when you file your income taxes next year,” said White. “When the individual income tax processing season opens in late January, we will be ready to process your return. A few moments of your time today can make filing much easier tomorrow.”
In addition to address verification, the Michigan Department of Treasury has provided key information and recommendations for the upcoming tax season:
- Accessing Forms and Instructions: Beginning in January 2024, taxpayers can view and download forms and instructions from the official website (www.michigan.gov/taxes). Commonly used forms will also be available at Treasury offices, public libraries, northern Michigan post offices, and Michigan Department of Health and Human Services county offices.
- E-filing Encouraged: Taxpayers are encouraged to e-file their state tax returns instead of mailing paper returns when the tax season begins in late January. The process is faster, more secure, and helps streamline the overall tax filing experience. More information is available at www.mifastfile.org.
- Identity Theft Reporting: Taxpayers who have been recent victims of identity theft are urged to report their circumstances to the state Treasury Department. Reporting identity theft is crucial in preventing cybercriminals from filing fraudulent returns and stealing state tax refunds. Details can be found at www.michigan.gov/identitytheft.
- Tax Law Changes: The 2023 tax return, forms, and instructions reflect the expanded Michigan Earned Income Tax Credit (ETIC) for Working Families, created in a new state law effective February 13, 2024. Eligible individuals are encouraged not to delay in filing their tax year 2023 return and claiming the expanded credit.
- Lowering MI Costs Plan: The Lowering MI Costs Plan provides retirees with more options for choosing the best taxing situation for their retirement benefits, starting in tax year 2023. The law change takes effect on February 13, 2024, and the 2023 tax return incorporates all retirement and pension benefit subtraction options created by the new law.
For the recently concluded 2023 filing season, the Michigan Department of Treasury processed nearly 5.2 million 2022 tax year individual income tax returns, with a typical refund averaging around $760. Most timely filed refunds for the 2022 tax year have already been processed, showcasing the department’s commitment to efficient tax administration. As taxpayers prepare for the upcoming tax season, addressing these key aspects will contribute to a smoother and more streamlined filing experience.
