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BREAKING NEWS

Changes in state tax filings

Updated: Monday, February 18 2013, 09:09 AM EST
Changes in state tax filings story image
LANSING, Mich. (NEWSCHANNEL 3) - If you've filed your taxes already, you've probably noticed some changes in the amount you owe to the State of Michigan.

Changes approved by Governor Snyder 21 months ago are just now starting to hit residents.

Homeowners, new parents and low income workers will all be noticing some changes in their taxes this year and many people who normally got money back are owning the state some cash.

All of these changes went into effect last January, but we are just now paying for them with our current tax returns.

Among the biggest changes are special exemptions for seniors. Many are getting about half the return they normally see.

A refundable credit for low-income workers was also reduced.

Legislators also eliminated credits for city income taxes, college tuition and charitable donations.

Homeowners and renters used to qualify for a credit if their household income was no more than $83,000 a year. Now they don't get it unless their total household resources are less than $50,000.

And a state tax deduction for children is gone as well.

Experts tell us these changes all combined will hurt low income residents the most. If you add up all of those changes, about half of all Michigan tax filers are seeing a considerable tax increase ahead of the April 15th deadline.

Newschannel 3 is dedicated to helping you get your taxes done. We'll be bringing in the experts starting next month to answer your question live on air. Send us your tax questions to mornings@wwmt.com.





Changes in state tax filings
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