The Michigan Department of Treasury’s MI Student Aid Team wants families to be alert and informed when considering taking out student loans.

Michigan’s short-term budget outlook is even rosier, after economists revised projected tax revenues upward by a combined $5 billion over two years.

More than $42.2 million in marijuana tax revenue will be distributed among 163 municipalities and counties in Michigan.

More than 178,000 Michigan households who received Home Heating Credits for the 2020 tax year are receiving an additional one-time payment this month, the state announced.

LANSING, Mich. – The due date for Michigan individual income tax annual returns has been pushed back to May 17, the state treasury department announced. Gretchen Whitmer announced the new filing deadline after the IRS extended its deadline to May 17. Changing the state’s filing and payment deadlines can help individuals figure out their next steps as we navigate these extraordinary times.”AdUnder the new deadline, state individual income tax annual returns and payments are due before 11:59 p.m. May 17. Taxpayers who are owed a refund are encouraged to file their state income tax returns so they can receive their refunds. They should estimate their tax liability and pay any taxes owed by May 17 to avoid additional interest or penalties, state officials said.

Business men work with calculator and laptop on the white table at officeThe state of Michigan will process individual income tax returns beginning Friday, Feb. 12, officials announced Wednesday. The Michigan Department of Treasury says it will begin processing state income tax returns at the same time the IRS does -- on Feb. 12. “We coordinate with the IRS to process tax returns and issue refunds,” said State Treasurer Rachael Eubanks. Michigan income tax returns and payments of taxes owed must be received by the state by April 15, 2021. You can learn more about individual income tax in Michigan at the treasury’s website here.

DEARBORN, Mich. – Learning how to manage money is a real-life skill that’s all too often overlooked in school. Henry Ford College and Dearborn Public Schools have launched the state’s first Financial Empowerment Curriculum. Financial literacy is an important skill set that our students will need throughout their lives. Russ Kavalhuna, President of Henry Ford CollegeREAD: Continuous education coverageThe first ever MI Financial Literacy Summit was held at Henry Ford College last year. State Treasurer Rachael Eubanks facilitated a discussion with experts from across the state about financial literacy and the role it has in shaping Michigan’s future.

Gretchen Whitmer and state treasurer Rachael Eubanks announced a new grant program for Michigan teachers and support staff. Those who worked additional time and incurred additional costs during the 2019-2020 school year due to COVID-19 can receive grant money through two new grant programs. Under both the Teacher COVID-19 Grant and the Support Staff COVID-19 Grant programs, eligible teachers can receive up to $500 and eligible support staff can receive up to $250. The state of Michigan’s Fiscal Year 2021 budget provides $53 million for eligible K-12 classroom teachers and $20 million for eligible support staff. “Our teachers and support staff have made incredible sacrifices this year to ensure our kids can get a great education while Michigan fights the COVID-19 pandemic.

DETROIT – The Detroit Public Schools Community District has regained control of its finances. The Detroit Financial Review Commission (FRC) voted unanimously on Monday to immediately grant a waiver that releases both Detroit Public Schools (DPS) and Detroit Public Schools Community District (DPSCD) from active state oversight. READ: Detroit Public Schools Community District expected to be released from state oversightThe elected DPSCD School Board and its appointed superintendent manage the district along with DPS, which solely functions to manage the district’s legacy debt. “This is a monumental day for the state of Michigan,” said State Treasurer Rachael Eubanks, chairperson of the Detroit FRC. “Our largest school district has shown leadership in having three consecutive balanced budgets with minimal oversight of day-to-day operations.

LANSING, Mich. Michigan's budget outlook is not as bad as was thought thanks to federal pandemic relief aid, higher consumer spending and tax payments than expected, and a quicker recovery by the manufacturing and auto industries, officials said Monday. Gretchen Whitmer's administration and legislative economists projected a combined $6.3 billion shortfall in the state's two main funds over this fiscal year and next. That means the situation is not as dire as the Democratic governor and Republican-led Legislature begin work to pass a budget to start Oct. 1. State budget director Chris Kolb estimated a hole of less than $1 billion in the combined $23 billion school aid and general funds, down from a potential $3 billion shortfall. These are large revenue losses that will require difficult decisions without additional federal aid, especially in fiscal year '22.

LANSING, Mich. The Michigan Department of Treasury announced Tuesday a new payment plan for business taxpayers deferring their sales, use and withholding (SUW) taxes amid the coronavirus (COVID-19) pandemic. Taxpayers that have deferred payments from February, March, April and May are eligible to participate in the installment plan. Providing an installment payment option enables businesses to spread out their obligations over the next six months without incurring additional cost. Businesses are not required to submit any documents to or contact the state treasury to participate in the plan. Read the full announcement from the state treasury on their website here.

LANSING, Mich. The Michigan Department of Treasury announced Saturday that business taxpayers have additional time to pay their Sales, Use and Withholding (SUW) taxes amid the coronavirus (COVID-19) pandemic. MORE: Coronavirus in Michigan: Heres where we stand as of Saturday morningMichigan businesses can postpone SUW tax payments through June 20 without penalties or interest. Moving the sales, use and withholding tax deadline until June and providing other repayment options will help taxpayers navigate their way through this crisis.Officials say the deferment option is not available for accelerated SUW tax filers. The state Treasury will announce additional payment options available to business taxpayers in the future, officials said. Businesses with questions can learn more or contact the state Treasury at their website here.

DETROIT – Michigan residents who are unemployed due to COVID-19 are eligible for collections assistance. Effective immediately, individuals who have been laid off or had their place of employment closed due to COVID-19 should reach out to see what options are available. To receive assistance, individuals are encouraged to contact Treasury’s Collections Service Center at 517-636-5265. How to file for unemployment in Michigan as coronavirus creates enormous demand“Our first and foremost priority is the health and safety of Michiganders,” State Treasurer Rachael Eubanks said. “If you are currently unemployed or are facing other hardships due to the COVID-19 emergency and are paying on a state tax debt, please contact us so we can work with you during this difficult situation.”To learn more about Michigan’s taxes and the collections process, go to www.michigan.gov/taxes or follow the state Treasury Department on Twitter at @MITreasury.