2016 Tax Year Income Tax Refunds Processed Within Two Weeks
LANSING, Mich. – The Michigan Department of Treasury (Treasury) continues making process improvements to ensure taxpayer refunds are processed and issued in a timely manner.
To date, Treasury has processed more than 4.9 million income tax returns, with 95 percent reviewed and finalized within two weeks of receipt. The remaining 5 percent required additional review and were processed within two to six weeks.
“The Michigan Department of Treasury is committed to improving taxpayer services and experiences,” State Treasurer Nick Khouri said. “Taxpayers expect to receive their refunds quickly. We are continuously improving our processes and systems to meet that expectation.”
For the first time in Treasury’s history, all 2015 state income tax returns were processed and reviewed during the 2016 processing year due to process and procedural improvements. Treasury is currently ahead of benchmarks and expects to process all 2016 returns within the 2017 processing year.
As of mid-June, more than 3.6 million individual refunds were issued at an average of more than $480 per return.
While the average refund was similar to last year, Treasury has processed more than 118,000 additional refunds and provided an additional $56 million in total refunds to taxpayers so far this year. Out of the nearly 4 million state income tax returns that were e-filed, over 2.4 million had refunds directly deposited, up by more than 122,000.
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