Is There a Stimulus Check for Vermont in 2024?

If you’re waiting for a new stimulus check in Vermont, we recommend exploring other options like federal assistance programs. Federal and local governments, as well as local nonprofits have a number of programs for low-income Americans that need help with housing, food, healthcare, and more.

With no new stimulus updates for 2024, we also recommend checking your eligibility for Vermont’s tax credits. Read on to learn more about how tax credits can help, how much credit you can get, and how to qualify.

Is There a Stimulus Check in 2024 for Vermont?

There are no new stimulus checks for Vermont residents this year. President Biden and/or Congress have no plans to issue a fourth round of Economic Impact Payments.

The relief measures introduced through the American Rescue Plan and the CARES Act during the coronavirus pandemic have long since expired. However, you can still claim the 2021 Recovery Rebate Credit by filing your federal tax returns by April 15, 2025.

Vermont Stimulus Check 2024

Eligible Vermont taxpayers can claim state-level credits like the Earned Income Tax Credit (EITC), Child Tax Credit (CTC), and Child and Dependent Care Tax Credit (CDCTC).

If you qualify, these tax credits can lower your tax liability and may even help you get a larger refund.

“While Vermont has no new stimulus checks, always consult a tax professional to take advantage of all tax rebates in this state,” shares Teresa Dodson, founder of Greenbacks Consulting.

How do Vermont Stimulus Checks Work?

Tax credits are not low-income or senior stimulus programs in the traditional sense, but governments use them to provide relief to qualifying low-income taxpayers.

Tax credits can reduce your tax bill on a dollar-for-dollar basis. They can be refundable or nonrefundable. With a nonrefundable credit, your tax bill can be reduced to zero, but you can’t get a check for the surplus. A refundable credit will reduce your taxes to zero, and you’ll also get a check for any surplus left over.

Who Is Eligible for Vermont’s Stimulus Checks?

To qualify for the Vermont EITC, you must:

• Have earned income.
• Meet basic income, age, and qualifying children rules.
• File a Form 1040, U.S. Individual Income Tax Return, even if you don’t owe any taxes.
• Be a part-year or full-year Vermont Resident.

You’ll need to qualify for the federal EITC by satisfying these eligibility requirements to claim the state credit:

• You must have earned income during the year.
• You must have lived in the U.S. for at least six years.
• Your investment income should not exceed $11,000.
• You must have a valid Social Security number.
• You shouldn’t be claimed as a dependent by another taxpayer.

You must also meet these earned income and adjusted gross income thresholds set by the Internal Revenue Service (IRS) to qualify for the federal 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)

Here are the eligibility requirements for the Vermont Child Tax Credit (CTC):

• The credit is available for each child on the state tax return who is no more than five years old at the end of the tax year.
• The amount of credit is pro-rated based on income for part-year residents.
• The credit is available to all qualifying residents, whether they, their spouse, or qualifying dependents, whether they have an Individual Tax Taxpayer Identification Number (ITIN) or Social Security number (SSN).

You may qualify for Vermont’s Child and Dependent Care Tax Credit (CDCTC) if you qualify for the federal CDCTC. You’ll need to meet these eligibility requirements to claim the credit:

• You (and your spouse) must have earned income.
• Married couples must file a joint tax return.
• You must have paid someone for the care of your child or dependent so you could work, look for work, or study full-time.
• You and your spouse (if filing jointly) must have lived in the U.S. for more than half of the tax year. Special rules may apply to military personnel stationed outside the country.
• The qualifying child must be under the age of 13.
• You must be caring for a dependent who is unable to care for themselves.
• The dependent must have lived in your home for at least half of the tax year.

How Much Do You Receive and When

The Vermont EITC (fully refundable) is 38% of the federal credit. For part-year residents, the credit amount is prorated based on income earned.

The Vermont CTC (fully refundable) is $1,000 per qualifying child. The credit amount is reduced by $20 for every additional $1,000 in income once your adjusted gross income (AGI) exceeds $125,000. Taxpayers with an AGI of $175,000 or more are not eligible for the credit.

The Vermont CDCTC is fully refundable and is 72% of the federal credit.

How To Track the Status of Your Vermont Stimulus Checks

Even if you qualify for and claim tax credits, you won’t get a separate Vermont stimulus check. The credit will be adjusted against your outstanding tax liability. If the credit is refundable and you qualify, you may get the excess credit with your tax refund through direct deposit or paper check.

Generally, the Vermont Department of Taxes takes six to eight weeks to process e-filed returns and eight to 12 weeks to process paper returns. You can check the status of your refund online using myVTax.

How To Apply for Vermont’s Stimulus Checks

You can claim Vermont tax credits by filing your state individual income tax returns. A tax professional can check which federal and state credits you qualify for and claim them to help you maximize your refund. Online tax preparation software is also an easy and affordable option if you’re comfortable filing taxes on your own.

You may also want to check if you qualify for the IRS’s free tax filing options like Free File, TCE, and VITA if you’re a low-income filer.

Apply for Financial Assistance in Vermont

While there are no new stimulus checks for Vermont residents this year, you can still get some relief if you claim federal and state tax credits.

For low-income Americans, the government also has a number of excellent resources and financial assistance programs to provide access to essentials like housing, food, healthcare, and more.

Visit our Maine stimulus checks, New Hampshire stimulus checks, and New York stimulus checks pages for information about programs you can apply for in those states.