Michigan’s 2024 Stimulus Checks: Arrival Timeline Explained

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.

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.

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