Is There a Stimulus Check for Oklahoma in 2024?

If you’re waiting for new stimulus updates, you should know that there are no new stimulus checks for Oklahoma residents this year. If you’re finding it difficult to pay for your living expenses, the federal government has a lot of assistance programs.

You can also claim Oklahoma’s tax credits to lower your tax bill to get a larger refund. Read on to learn more about tax credits you may qualify for, how to claim, and how much you can get.

Is There an Oklahoma Stimulus Check in 2024?

There’s no new Oklahoma stimulus check coming in 2024 or in 2025. The stimulus payments issued during the coronavirus pandemic through the American Rescue Plan and CARES Act have long since expired and President Biden and Congress have no plans to issue another round of checks or other direct payments like they did in 2020 and 2021.

While there have been many social media posts and online articles about the potential for a fourth round of IRS stimulus checks, these are entirely false, or misleading at best. Instead, we recommend applying for existing programs like Social Security Disability and/or Supplemental Income benefits, unemployment benefits, subsidized housing, and food stamps.

Oklahoma Stimulus Check 2024

Federal and state tax credits can help put more money in your bank account. They can reduce the amount of taxes you owe or help you get a larger tax refund.

There are three main state tax credits you claim: Earned Income Tax Credit (EITC), Child Tax Credit (CTC), and the Child and Dependent Care Tax Credit (CDCTC).

How do Oklahoma Stimulus Checks Work?

Qualifying taxpayers can subtract state tax credits, on a dollar-for-dollar basis, from the taxes they owe to the state of Oklahoma, the same way that federal tax credits can be used to reduce taxes they owe to the federal government (aka, the U.S. Treasury). It may also be a credit given out in recognition of the taxes you’ve already paid to another state on the same income you’re paying state taxes on in Oklahoma or may be applied as a discount in some cases. It’s important to keep in mind that they are not stimulus packages in the traditional sense.

Tax credits can be refundable, partially refundable, or nonrefundable. You can get a tax refund even if you don’t owe any taxes with a refundable tax credit. Nonrefundable tax credits will reduce the income taxes you owe down to zero, but you won’t get any additional benefit beyond that.

“Tax credits serve the same purpose as traditional stimulus programs do. By lowering your net income tax bill or by even allowing you to get a higher refund, you still end up with more money in your pocket than would otherwise,” shares Brad Reichert, debt expert and the founder and managing director of Reichert Asset Management LLC. 

“This extra money can provide some much-needed relief when finding it difficult to keep up with your normal bills,” he adds. 

Who Is Eligible for Oklahoma’s Stimulus Checks?

All taxpayers who qualify for the federal Earned Income Tax Credit (EITC) are automatically eligible for the Oklahoma EITC. These are the basic eligibility requirements for the federal EITC:

• You should be between 25 and 65.
• You should have lived in the U.S. for at least six years.
• You should not be claimed as a dependent on another taxpayer’s tax returns.
• Your investment income must not be over $11,000.
• You should have a valid Social Security number.

Here are the adjusted gross income limits set by the IRS for EITC:

• No qualifying children: $17,640 (single, head of household, widowed) $24,210 (married filing jointly)
• 1 qualifying child: $46,560 (single, head of household, widowed) $53,120 (married filing jointly)
• 2 qualifying children: $52,918 (single, head of household, widowed) $59,478 (married filing jointly)
• 3 or more qualifying children: $56,838 (single, head of household, widowed) $63,398 (married filing jointly)

You can qualify for the Oklahoma Child Tax Credit (CTC) if you qualify for the federal CTC. You must have “qualifying children” as defined by the IRS to claim the federal CTC. Your adjusted gross income (AGI) should be below the specified income limits.

You must have paid someone else to provide childcare to claim the federal Child and Dependent Care Tax Credit (CDCTC). You’ll need to qualify for the federal CDCTC to be eligible for the Oklahoma state-level credit. You’ll also need to meet these eligibility requirements to qualify:

• You must have earned income.
• You must have paid someone else for the care of your children or dependents, in order to work, or look for work.
• Married couples must file a joint return.
• You must provide the name, address, and the Taxpayer Identification Number of the person who provided the care.

How Much Do You Receive and When

The Oklahoma EITC is 5% of the federal EITC. This is a refundable credit.

Families eligible for the state-level Child Tax Credit (non-refundable) can claim either 5% of the federal Child Tax Credit or 20% of the federal Child and Dependent Care Tax Credit, whichever is greater.

How To Track the Status of Oklahoma’s Stimulus Checks

You won’t receive a separate Oklahoma stimulus check even if you qualify for and claim tax credits. When you file your individual income tax returns, the credits can and should be applied toward the amount of your income tax due.

You’ll receive a paper check or a direct deposit if you're eligible for a refund. Residents of the state of Oklahoma can also choose to receive a tax refund via a preloaded debit card.

If you e-filed your return and choose to get the debit card, you’ll receive the refund in six weeks. If you paper-filed your return and choose to receive direct deposit, you’ll receive the refund in 10 to 12 weeks. You can also check the status of your refund online.

How To Apply for Oklahoma’s Stimulus Checks

You’ll need to file your individual income tax returns to claim tax credits. File your federal and state returns with the help of a tax professional or use online tax prep software.

Eligible low-income filers can also use one of the free tax filing options from the IRS, such as Free File, TCE, and VITA.

Apply for Financial Assistance in Oklahoma

Instead of waiting for a new rebate check, inflation relief payment, or Oklahoma stimulus check that will likely not come, we recommend applying for one or more of the many available low-income or senior assistance programs. The federal government has several programs in place for low-income Americans, such as food stamps, rental assistance, SSDI, SSI, and unemployment benefits.

Fill out the questionnaire on the Benefit Finder tool to get a list of benefits you can apply for based on your answers. We also recommend exploring assistance programs offered by local governments and nonprofits.

Visit our Arkansas stimulus checks, Kansas stimulus checks, and Texas stimulus checks pages for information about programs you can apply for in those states.