Michigan’s 2024 Stimulus Checks: Arrival Timeline Explained

If you’re having a hard time making ends meet, a Michigan stimulus check might look like a short-term lifesaver. But since there aren’t any new changes to the stimulus plan for 2024, we suggest that you look for other ways to make things easier.

The state offers tax credits that can help you pay less in taxes and get a bigger return. You can also get help with housing, health care, and food through some federal government tools and programs.

Is There a Michigan Stimulus Check in 2024?

here are the key details about a potential Michigan stimulus check in 2024:

Michigan Earned Income Tax Credit (EITC) Checks

  • In 2024, Michigan will be distributing checks to residents who claimed the Michigan Earned Income Tax Credit (EITC) for the 2022 tax year.
  • These checks are not technically “stimulus checks” but rather an expansion of the state’s EITC program.
  • Eligible residents who qualified for the federal EITC and the Michigan EITC in 2022 will receive these checks, which are expected to average around $550 per family.

Payment Details

  • The Michigan EITC checks started being processed on February 13, 2024 and the process is expected to take up to 6 weeks.
  • So most eligible residents should receive their checks by the end of March 2024.
  • The check amounts will vary based on factors like income, number of qualifying children, and filing status for the 2022 tax year.

When Is It Coming?

 

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You might get these checks as early as February 13, 2024. They will come with a letter saying that they are the last 24% of the 2022 Michigan EITC, which was increased because of a recent law change.

Michigan Stimulus Check 2024

You won’t be getting any Michigan stimulus checks in 2024, but you can use tax credits to lower your tax bill and get a bigger tax return.

There is no Child Tax Credit (CTC) or Child and Dependent Care Tax Credit (CDCTC) at the state level in Michigan. It is possible to get the state’s Earned Income Tax Credit, which is also called the Michigan Earned Income Tax Credit for Working Families.

In what ways do Michigan Stimulus Checks work?

The Michigan EITC is a tax break for working people with low to middling income. It works like the Earned Income Tax Credit at the government level.

Beginning with the 2023 tax year, Public Act 4 of 2023 in Michigan raised the state’s EITC from 6% to 30% of the federal EITC. It doesn’t matter if a tax credit is refundable or not. It usually gives you more money because it lowers the amount of taxes you have to pay.

You might be able to get a tax refund even if you don’t owe any money on your taxes if you collect the federal and Michigan state EITC. Users can use this extra cash to pay their bills or set aside money for the future.

How Do Stimulus Checks in Michigan Work?

The Michigan EITC is a tax break for working people with low to middling income. It works like the Earned Income Tax Credit at the government level.

Beginning with the 2023 tax year, Public Act 4 of 2023 in Michigan raised the state’s EITC from 6% to 30% of the federal EITC. It doesn’t matter if a tax credit is refundable or not. It usually gives you more money because it lowers the amount of taxes you have to pay.

You might be able to get a tax refund even if you don’t owe any money on your taxes if you collect the federal and Michigan state EITC. Users can use this extra cash to pay their bills or set aside money for the future.

When and how much do you get?

Your credit amount will rely on a lot of things, like how much money you make, whether you are disabled, how many qualifying children you have, and how you file your taxes. The Michigan EITC is 30% of the federal EITC. Every year, it is changed to account for inflation.

michigan stimulus checks

You can only get $2,349 in claims in 2024. If you need the state’s EITC, you won’t get a straight stimulus check from the Michigan state government. In its place, it will show up on your tax returns, which means that any credit you’re owed will come from your tax refund.

Find out what’s going on with Michigan’s stimulus checks

You won’t get a straight tax credit check from the government if you cut. Your state income tax return will show the tax credit instead, and it will be paid to you in the same way that you choose to get your state tax refund.

The Michigan EITC for Working Families is a refundable tax credit, which means that you may get your money back even if the credit lowers your tax bill below zero. That is, if it lowers the amount of MI state income taxes you owe to zero and you still have credit left over, you will get that amount back as a tax return.

Either a paper check or a straight deposit into your bank account will be sent to you from the company. On the website of the Michigan Department of Treasury, you can use the “Where’s My Refund?” tool to find out where your return is.

When you file your return electronically, you’ll have to wait 3–4 weeks, and when you file it on paper, you’ll have to wait 6–8 weeks.

How to Apply for Michigan’s Stimulus Checks

This is what you need to do to get tax credits: file your Michigan state income tax forms. Before you can get the state EITC, you must also file your federal income tax return and be eligible for the federal EITC.

If you want to get the Michigan state EITC, you have to have made income during the tax year, but it has to be less than a certain amount. Note that the following types of income are not considered earned: interest and/or dividends; income from retirement accounts like IRAs or 401Ks; Social Security payments; unemployment benefits; spousal support; or child support. “This is what Brad Reichert, founder and managing director of Reichert Asset Management LLC, says.

“You can still get Michigan’s EITC if you have these types of income, but you must also have some other kind of earned income,” Reichert says. “As long as your total income from all sources is less than the amount needed to get the credit.”

Remember that you are in charge of filing your taxes and the information on them, even if you hire a tax professional to do it for you. If you want to file your taxes online for free, you can use Free File or go to the IRS’s TCE or VITA sites.

Read more:

Are there any other states offering stimulus checks in 2024

there are a few other states that are offering stimulus checks or similar financial assistance programs in 2024:

California

  • California’s Fresno Guaranteed Income program provides $500 monthly payments to 150 eligible families in Fresno County for a year to help manage expenses.

New Mexico

  • New Mexico will distribute $15 million in economic relief payments in 2024. 26,085 residents will receive $500 stimulus checks, with over 19,000 getting direct deposits and 6,000+ receiving paper checks.

Washington

  • Washington’s Growing Resilience in Tacoma (GRIT) program will provide $500 stimulus checks to residents in need on May 15, 2024. This year-long program supports low-income families.

Alaska

  • Alaska residents will receive $1,300 stimulus checks on May 16, 2024, through the state’s Permanent Fund Dividend, funded by oil revenue

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