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News & Events Digest: March 2025





Rachael Eubanks on Wall
Rachael Eubanks: Michigan’s First Woman Treasurer

"March is Women's History Month"

"Hanging in a high-ceilinged hallway close to Lansing’s Capitol Building, are rows of imposing black and white portraits. Beginning with Michigan’s first state treasurer, Henry Howard (1836–1839), forty-six of the portraits in the “Hall of Treasurers” are male. Number forty-seven is not."

"Rachael Eubanks was appointed as Michigan’s 47th State Treasurer by Governor Gretchen Whitmer in January of 2019 — the first female in 188 years of Michigan statehood."

"Now serving in her seventh year guiding Michigan’s tax money and financial programs, Treasurer Eubanks reflects on what brought her to this place in history and what it means to both have a seat at the table and her portrait on the wall…"

*Dream Job*

It wasn’t always about numbers. As a young woman, Rachael Eubanks was interested in science, engineering and mathematics, but always thought she’d be a medical doctor. After a visit to a cadaver laboratory ended in a near-fainting experience, she revisited her career choices. Discovering economics soon after, she realized it held the magic ‘human’ equation: economics married math to people, and economics married to public policy could enact change.

Graduating from University of Michigan with a degree in economics and an interest in bonds, Rachael began working right away in public finance. Serving in the private sector for 13 years at an investment banking firm mostly doing financial advisory work, she developed detailed knowledge of the bond issuance process for public entities. Her tenure at the firm overlapped Michigan’s Great Recession; the devastating economic crisis spanning 2007–2009 required all of Rachael’s creativity and innovation while offering her an unprecedented, hands-on education from worst-case economic scenarios.

Read more on the Michigan Department of Treasury's Medium page. [ [link removed] ]

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Michigan Treasury Reminds Seniors About Tax Credits and Other Benefits
Michigan Treasury Reminds Seniors About Tax Credits and Other Benefits

Older Michiganders have important tax credits and subtractions they can use this tax season to lower their tax bill or provide a refund, according to the Michigan Department of Treasury.

These eligible benefits include the Homestead Property Tax Credit, the Home Heating Credit and the Retirement and Pension Benefits Subtraction. Often, uninformed individuals may miss permitted tax deductions.

“I encourage seniors to seek out a qualified tax professional and investigate the Michigan tax benefits they may be eligible to receive,” State Treasurer Rachael Eubanks said. “You may qualify for low to no cost tax assistance from IRS-trained and certified volunteers. Taking advantage of tax programs and available resources can lead to more income for groceries, prescriptions, housing costs and other needs on a fixed income.”

*Homestead Property Tax Credit *

The Homestead Property Tax Credit is a benefit for qualified Michigan homeowners and renters, helping to pay some of the property taxes billed. 

This credit can be filed up to four years from the year it could be claimed and the maximum credit amount may be adjusted annually.  

Details about your income, property and living situation impact the allowable credit amount. For guidance, visit Treasury’s new Homestead Property Tax Credit [ [link removed] ] webpages.

*Home Heating Credit *

The Home Heating Credit is a tax benefit for qualified Michigan homeowners and renters with low to moderate income, helping to pay some of their heating expenses.

The maximum credit a taxpayer can claim may change each year. For qualifications and guidance, visit Treasury’s Home Heating Credit [ [link removed] ] webpages.

Individuals who do not qualify for the Home Heating Credit may qualify for other assistance through the Michigan Department of Health and Human Services. The Low Income Home Energy Assistance Program (LIHEAP) [ [link removed] ] helps households with high energy bills, shut off notices and home energy repairs. 

*Retirement and Pension Benefits Subtraction *

For retirees, the Retirement and Pension Benefits Subtraction is a reduction of all eligible retirement income from your Michigan taxable income. Retirement income is reported on Form 1099-R [ [link removed] ] for federal tax purposes and includes defined benefit pensions, IRA distributions and most payments from defined contribution plans.

Tax Year 2024 is the second year of the retirement tax rollback phase-in. This new law allows you to choose the most advantageous subtraction for your retirement and pension benefits.  

For qualifications and guidance, visit Treasury’s refreshed Retirement and Pension Benefits [ [link removed] ] webpages. These pages include a Retirement and Pension Estimator [ [link removed] ] that can help individuals determine the eligible deduction and subtraction with the greatest value. 

*Need Filing Assistance?*

For assistance filing a tax return, seniors are encouraged to visit michiganfreetaxhelp.org [ [link removed] ], irs.treasury.gov/freetaxprep [ [link removed] ] or dial 2-1-1. Connect with your local Area Agency on Aging [ [link removed] ] to learn about tax support and services available in your area.

In addition, electronic filing and direct deposit is fast, convenient, and safe. Details are available at mifastfile.org [ [link removed] ].

Allow at least 4 weeks from the date you receive your e-filed state tax return confirmation to receive your refund.

Last year, of the approximately 5 million returns received by Treasury, Michigan taxpayers e-filed more than 91% of those returns. For more information about e-filing, go to mifastfile.org [ [link removed] ].



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Tax Return
*Individual Income Tax Returns due in Less Than a Month*

Taxpayers have less than a month to file their state individual income tax return, according to the Michigan Department of Treasury (Treasury).

State individual income tax returns must be filed electronically or postmarked through the U.S. Postal Service by 11:59 p.m. on Tuesday, April 15. For more information about e-filing, go to www.mifastfile.org [ [link removed] ].

“There are less than four weeks remaining in this year’s individual income tax filing season," said State Treasurer Rachael Eubanks. “Taxpayers still have plenty of time to file their state individual income tax returns. For the most accurate returns, considering electronic filing or using a reputable preparer. Taking time out of your schedule and filing today ensures you receive all the tax credits and deductions you are entitled to receive.”

Printed tax forms are available online and at public libraries, post offices in northern Michigan and the Upper Peninsula, Department of Health and Human Services county offices, and Treasury field offices.

For the benefit and convenience of taxpayers, both federal and state of Michigan individual income tax returns are due April 15, 2025. City of Detroit individual income tax returns are also due on April 15, 2025.

Taxpayers who owe tax must make any outstanding payments by April 15, 2025.

*Ask Tax Questions with Treasury eServices*

Michigan taxpayers who have questions about their individual income tax returns or refunds can use Treasury’s Individual Income Tax eService [ [link removed] ] to find answers at their convenience. The platform also enables taxpayers to change addresses, view estimated tax payments, calculate penalty and interest, and view and respond to letters. 

Allow 4 weeks from the date you receive your e-filed state tax return confirmation or 8 weeks from the postmark date on your mailed state tax return to receive your refund. After that timeframe, you can check the status at michigan.gov/wheresmyrefund [ [link removed] ].

*Free Tax Help*

Individuals with low to moderate income, disabilities or who are 60 years of age or older may qualify for free tax preparation help from IRS-certified volunteers [ [link removed] ]. For information about free tax help, go to irs.treasury.gov/freetaxprep [ [link removed] ] or dial 2-1-1.

Additional free or low-cost tax help can be found at michiganfreetaxhelp.org [ [link removed] ].

To learn more about Michigan's individual income tax or to download forms, go to michigan.gov/incometax [ [link removed] ]. Information about the city of Detroit's individual income tax can be found at michigan.gov/citytax [ [link removed] ].



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Treasury Talk Podcast

Latest Treasury Talk Podcast: "How to Find Your Missing Money" [ [link removed] ]



Join Our Team

Your Career Starts Here! [ [link removed] ]






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Fostering Futures Scholarship
Fostering Futures Scholarship Trust Fund to Host Annual Spring Fundraising Dinner in Kalamazoo

The Fostering Futures Scholarship Trust Fund, managed by the Michigan Department of Treasury, will host its annual spring fundraising dinner next month to support Michigan’s foster youth in pursuing their college dreams.

*The event, set for **Friday, April 11 from 5:30-9:30 p.m.**, at the **Radisson Plaza Hotel in Kalamazoo*, will bring together community leaders, advocates and donors for an evening of dining, networking and inspiration, with all proceeds funding scholarships for students who have experienced foster care.

With more than 9.500 youth currently in Michigan’s foster care system and fewer than 10% of former foster youth nationwide enrolling in college after high school, the *Fostering Futures Scholarship Trust Fund* answers a critical need.

The upcoming fundraising dinner in Kalamazoo provides an opportunity for the community to help make a difference.

“Supporting this scholarship fund is about more than just covering tuition. It’s about giving foster youth the confidence and opportunity to pursue their dreams,” said *Diane Brewer*, executive director of the Michigan Education Trust (MET) at the Department of Treasury. “Every donation helps open doors, create possibilities, and build a future where these students can thrive.”

All proceeds from the event will go directly toward scholarships for students who have experienced foster care, helping them cover essential costs such as tuition, housing, books and other critical college expenses. Many of these students have overcome extraordinary obstacles, and with the right financial support, they can achieve their academic and career goals.

The event is made possible thanks to the generosity of sponsors and supporters. Premier sponsors include the Michigan Education Savings Program (MESP), Park West Foundation and Western Michigan University’s Seita Scholars Program. Fellowship sponsors such as Ferris State University and Güd Marketing continue to show their commitment to this important cause. Supporting sponsors include Catalis and the Grand Rapids Griffins, while iHeartMedia, the Michigan Association of Broadcasters and WGVU are providing media support.

The Fostering Futures Scholarship Trust Fund is dedicated to ensuring that foster youth in Michigan have access to the educational opportunities they deserve. By coming together in Kalamazoo, the community can help open doors for these students and provide them with the resources they need to succeed. Every contribution—big or small—can help change a life and create a brighter future.

Since its inception in 2012, the Fostering Futures Scholarship Trust Fund has awarded over $1.4 million in scholarships, directly impacting the lives of hundreds of students across the state and helping them succeed at Michigan's degree-granting colleges and universities.

The fundraising dinners each year also present an opportunity to highlight the achievements of past scholarship recipients. One such inspiring individual in 2024 was *Rebecca Yager*, a mid-Michigan woman whose journey represents the profound impact of community support and educational opportunities on the lives of foster youth. ​

“Receiving this scholarship has been truly life-changing,” Yager said, “It’s not just about financial assistance—it’s about knowing that someone believes in my potential. I encourage everyone to give, not just for the tax benefits, but to help foster youth access the opportunities they need to succeed.”

The cost to attend the event is $100 per person or $800 for a table of eight, and tickets are available for purchase by the public. For more information, to purchase tickets or to explore sponsorship opportunities, please visit Fostering Futures Scholarship Event [ [link removed] ] or contact the event organizers at 1-800-638-4543 or [email protected].

For those unable to attend the event, there are still ways to support Michigan’s foster youth. Donations can be made securely online via credit card or by mailing a check along with the Fostering Futures Scholarship Contribution Form, making it payable to the State of Michigan – Fostering Futures Scholarship, PO Box 30198, Lansing, MI 48909. Contributions made by December 31 are tax-deductible under IRS Section 170(c), ensuring that every gift can make a lasting impact.



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STC Training
June 2025 Michigan Certified Assessing Technician (MCAT) Course Offering in Okemos

The State Tax Commission is pleased to announce that applications are now being accepted for the June 2025 Michigan Certified Assessing Technician (MCAT) program to be held June 26 and 27, 2025 from 8 a.m. to 5 p.m., at the Okemos Conference Center in Okemos. 

The exam will be on June 30, 2025, from 9-11 a.m. at the same location.  Fully completed applications must be received in our office no later than June 6, 2025, to be considered for the June 2025 MCAT Program.

The application is available on the State Tax Commission's website at [link removed].

Please see the MCAT program information available on the State Tax Commission's website for details about the program.  Further questions can be directed to Will Gast at [email protected].



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Facts and Figures
Mid-March Individual Income Tax Filing Season Update

As of March 21, more than 2.1 million returns for the 2024 tax year have been processed, providing more than $1.61 billion in refunds. The average refund amount is $920.

Additional information about state individual income taxes can be found at www.Michigan.gov/IIT [ [link removed] ]



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Fostering Futures Banner
Mark your Calendar for the
2025 Fostering Futures Scholarship Events

*Kalamazoo Dinner Gala*
Friday, April 11
5:30 p.m. to 9:30 p.m.
Radisson Plaza Hotel, Kalamazoo

*Pizza Party on the Michigan State Capitol Lawn*
Wednesday, June 18
11 a.m. to 2 p.m.
Capitol Lawn, Lansing

*Detroit Dinner Gala*
Friday, September 12
5:30 p.m. to 9:30 p.m.
Roostertail, Detroit

Learn more at www.michigan.gov/fosteringfutures [ [link removed] ].

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This email was sent to [email protected] using GovDelivery Communications Cloud on behalf of: Michigan Department of Treasury · Lansing, MI 48922 · 517-335-7508
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