Indiana Stimulus Check: What To Know in 2024

For many state residents with financial difficulties, a new Indiana stimulus check would go a long way in easing the burden. While there are no new stimulus updates for 2024, many options are available for low-income Americans.

We recommend exploring government assistance programs and any tax credits you may qualify for if you’re facing financial hardship due to an illness or job loss. Read on to learn more about state-level tax credits and the available financial assistance programs.   

Is There an Indiana Stimulus Check in 2024?

There are no new Indiana stimulus checks coming in 2024. The stimulus packages that were introduced during the Coronavirus pandemic under the CARES Act in April 2020, the Coronavirus Response and Relief Supplemental Appropriations Act in December 2020, and then under the American Rescue Plan in March 2021 no longer exist, and the deadline for filing your taxes and claiming your 2020 Recovery Rebate credit is May 17, 2024.  If you're eligible to claim the 2021 Recovery Rebate credit, you must file a tax return by April 15, 2025, to claim the credit.

While the state had sent out Automatic Taxpayer Refunds in fiscal years when the state had excess reserves in the Indiana State Treasury, it's yet to be seen if eligible tax filers will receive such a payment in 2024. The last such payment sent out by Governor Eric Holcomb was $200 in 2023.

Indiana Stimulus Check 2024

While there are no new stimulus checks in 2024, you can still qualify for the state’s tax credits to reduce your tax bill.

Indiana doesn’t have a state-level Child and Dependent Tax Credit (CDCTC) or Child Tax Credit (CTC). However, you may qualify for a state-level fully refundable Earned Income Tax Credit (EITC) if you’re eligible for the federal EITC.

How Do Indiana Stimulus Checks Work?

Tax credits are applied to your Indiana state income tax refund, or they’re used to reduce the amount of state income taxes you owe. While you won’t get a direct payment from the state government, you may get more money in your refund if you qualify for tax credits. When you file your state income tax return, the tax credit will be reflected in it if you qualify.

“Tax deductions reduce your taxable income (because you deduct eligible expenses from your taxable income), and this, in turn, reduces your income tax payable to the IRS or your state’s department of revenue,” explains Brad Reichert, founder and managing director of Reichert Asset Management LLC. 

“Tax credits, on the other hand, are almost always more valuable than deductions because tax credits directly reduce your taxes payable on an equal dollar-for-dollar basis,” Reichert says. 

Who Is Eligible for Indiana’s Stimulus Checks?

To qualify for Indiana’s Earned Income Tax Credit (EITC), you must meet a few qualification requirements:

• You must qualify for and claim the federal EITC on your federal income tax return
• You must have earned income during the tax year
• You must qualify as a resident of the state for the tax year
• A qualifying child, if you have one or more, shouldn’t be claimed as a dependent of another taxpayer
• You must be anywhere between the ages of 25 and 65 (i.e. older than 24, but also younger than 65). Tax filers who turned 65 anytime before December 31st of the calendar tax year are not eligible.
• You must have a valid Social Security number
• Your adjusted gross income (AGI) must be within the specified limits

How Much Do You Receive and When

Effective January 1, 2023, the Indiana EITC is recoupled with the federal EITC. Indiana’s EITC is 10% of the federal EITC, and taxpayers can claim up to three children.

Your adjusted gross income (AGI) and modified adjusted gross income (MAGI) should be less than the specified limits to qualify for the tax credit. The amount you qualify for will depend on your filing status (single, married filing jointly, married filing separately, head of household, qualifying widow/widower), income, and number of qualifying children.

How To Track the Status of Indiana’s Stimulus Checks

You won’t receive a direct payment from the state government if you qualify for tax credits like the Indiana EITC. Instead, the tax credit will be reflected on your state tax return in the form of a larger income tax refund amount or a reduced income tax due amount. You may get your refund through direct deposit in your bank account or as a paper check.

It may take three weeks for the Indiana Department of Revenue (DOR) to process electronically filed returns and 12 weeks for paper returns.

You can use the online “Where’s my refund” tool to check the status of your refund check.

How To Apply for Indiana’s Stimulus Checks

If you qualify for the federal EITC, you’ll also qualify for the state-level EITC. You can claim the tax credit by filing your state income tax returns. You can either file individual income tax on your own or use one of the approved state and federal filing companies.

Another option is to use the IRS’s INfreefile software, which allows you to file your state and federal taxes for free if you have an adjusted gross income (AGI) below a certain limit.

Apply for Financial Assistance in Indiana

If you’re finding it difficult to keep up with your bills, we recommend checking which government senior assistance programs and low-income benefits you qualify for instead of waiting for Indiana stimulus checks. A stimulus check will most likely be a one-time payment, while state-run financial assistance programs offer support for a longer time until your circumstances get better.

Additionally, Indiana debt relief programs, including those available in major cities like Indianapolis and Fort Wayne, provide several relief options that can help you tackle large amounts of unsecured debt.

Looking for information about other states? Visit our stimulus checks in Kentucky, stimulus checks in Ohio, and stimulus checks in Illinois guides.