The holiday season is now just a memory, the Super Bowl has come and gone, and now it’s time for a long winter’s nap…unless of course you want to dive into doing your taxes.
The Michigan Department of Treasury has announced that they will begin processing individual income tax returns this Friday, February 12th.
The February 12th processing date is the same start date as that of the U.S. Internal Revenue Service. For the benefit and convenience of taxpayers, both the beginning and end of the individual income tax filing season are the same as the IRS.
State Treasurer Rachael Eubanks says, “We coordinate with the IRS to process tax returns and issue refunds,” and adds, “This year, the IRS has pushed back the processing date due to software updating and testing. This means our processing date will also be pushed back. The state of Michigan will be ready to process your returns and issue refunds when the season opens early in the month.”
Individuals can file their state income tax return online, with a tax professional or by mailing in paper forms and documentation. All state income tax returns and payment of any taxes owed must be received by April 15, 2021.
Tax software companies are beginning to accept tax returns now and will transmit submitted returns to the IRS and state Treasury Department on February 12th.
All employers were required to mail previous year wage statements – W-2s and 1099s – to their employees by January 31st. End-of-the-year pay stubs should not be used when filing a state income tax return because they are typically not an accurate reflection of all income received.
Taxpayers who rush to file without all the necessary paperwork will need to file an amended return later. State income tax returns filed without the required paperwork will be placed on hold for future processing and review.
To learn more about Michigan’s individual income tax, you can visit online at: http://www.michigan.gov/incometax or follow the state Treasury Department on Twitter at @MITreasury.
