More than 700,000 Michigan households will get a check next year as part of $1 billion in tax cuts signed into law earlier this year.

More than 700,000 Michigan households will get a check next year as part of $1 billion in tax cuts signed into law earlier this year.

More than 700,000 Michigan households will get a check next year as part of $1 billion in tax cuts signed into law earlier this year.

If you receive payments via apps like Venmo, Zelle, Cash App or PayPal, your tax reporting requirements will change next year.

It’s that time of year when throngs of taxpayers are buckling down to file their income tax returns before Tuesday’s filing deadline, and many often pay to use software from private companies such as Intuit and H&R Block.

Taxpayers will get fatter standard deductions for 2023 and all seven federal income tax bracket levels will be revised upward as the government allows people to shield more of their money from taxation because of persistently high inflation.

The Internal Revenue Service says that it will have erased its backlog of last season’s tax returns by the end of this week.

Each year, tax payers get conned by tax-related schemes meant to steal money and personal information from people.

LANSING, Mich. The deadline to submit individual income tax returns for Michigan residents is approaching. State income tax returns are due on July 15. MORE: Coronavirus in Michigan: Heres what to know July 1, 2020Michigan taxpayers can submit their returns online or by mail before midnight on July 15. Officials are encouraging individuals to file their tax returns online. Residents who file online typically receive their refund about two weeks after the state accepts the tax return.