Is There a Stimulus Check for Wisconsin in 2024?

There are no new updates on stimulus checks for Wisconsin residents in 2024. However, if you’re facing financial difficulties due to a job loss, reduction in hours, or other circumstances, you can apply for federal assistance programs like subsidized housing, unemployment benefits, and food programs like SNAP.

Another alternative is to claim the state’s tax credits to increase your refund amount. Read on to learn more about which tax credits you can apply for, the specific eligibility requirements for each program, and how much you can get.

Is There a Stimulus Check in 2024 for Wisconsin?

There are no new stimulus checks for Wisconsin residents coming this year. After the three Economic Impact Payments issued during the coronavirus pandemic, neither President Biden nor Congress plan to issue any more stimulus payments.

The relief measures introduced through the American Rescue Plan and the CARES Act have expired. However, you can still file your tax returns by April 15, 2025, and claim the 2021 Recovery Rebate credit.

Wisconsin Stimulus Check 2024

Wisconsin taxpayers can claim the state’s tax credits like the Earned Income Tax Credit (EITC) and the Child and Dependent Care Tax Credit (CDCTC).

Wisconsin doesn’t have a state-level Child Tax Credit (CTC). In 2018, the state enacted a one-time Child Tax Rebate of $100 per child. However, that rebate is no longer available.

How do Wisconsin Stimulus Checks Work?

Federal and state-level tax credits can reduce the income tax you owe on a dollar-for-dollar basis and, as such, may also help you get a larger refund.

There are three main types of tax credits: refundable, non-refundable, and partially refundable. Non-refundable tax credits can reduce your tax liability down to zero, but you won’t get a refund check for any excess credits left over. With a refundable credit, you’ll get a check for any surplus left once your taxes are zero.

It’s important to keep in mind that tax refunds are not stimulus programs in the technical sense. However, they’re used by the government to provide tax relief to low and moderate-income taxpayers, so they act in about the same way.

Who Is Eligible for Wisconsin’s Stimulus Checks?

You must meet all of these eligibility requirements to qualify for the Wisconsin Earned Income Tax Credit (EITC) for the tax year 2023:

• You must qualify for the federal EITC. Exception: Married individuals filing separately can’t claim the Badger state’s EITC. You can only claim the credit on a separate tax return if you’re a married individual who qualifies to file taxes as a head of household.
• You must be a full-year resident of Wisconsin.
• You must have a qualifying child.
• You must file a joint return if you’re married.

You may claim the state EITC with a separate return if all of these apply:

• You paid over half the cost of the upkeep of a home for the tax year.
• Your spouse didn’t live in that house in the last six months of the tax year.
• The home was the principal residence of your child for more than half of the tax year.

If you paid someone for the care of your child or a dependent who is unable to care for themselves, you may be able to claim the Wisconsin state Child and Dependent Care Credit (CDCTC). You’ll need to qualify for the federal CDCTC to qualify for the state credit. Here are the eligibility requirements you’ll need to meet:

• You must have paid someone else to care for your child or dependent so you could study or work full-time.
• The qualifying person should be a dependent under the age of 13, a dependent, or a spouse of any age who isn’t capable of self-care.
• Your child or dependent must have lived in your home for at least half of the year.
• You must have earned income.
• Married couples must file a joint tax return.

How Much Do You Receive and When

The Wisconsin EITC is fully refundable and is calculated as a percentage of the federal credit. Here’s how much you can get for the tax year 2023:

• No qualifying children: No credit
• 1 qualifying child: 4% of the federal credit
• 2 qualifying children: 11% of the federal credit
• 3 or more qualifying children: 34% of the federal credit

The Wisconsin CDCTC is non-refundable and is 50% of the federal credit. Gov. Tony Evers signed legislation increasing the state’s CDCTC from 50% to 100% of the federal credit as a part of a $2.1 billion tax cut package. This increased rate will be effective from the 2024 tax year.

“Please note that state income tax credits can only be used to offset state income tax liability, and federal income tax credits can only be used to offset federal income tax liability. You cannot commingle tax credits from different sources,” explains Brad Reichert, the founder and managing director of Reichert Asset Management LLC.

“Since the federal tax credits and your state’s tax credits are offered to taxpayers for two very different reasons, they must be kept separate from each other,” says Reichert. “For instance, if you qualify for both federal and state income tax credits that are refundable, you can’t use any excess state tax credits to offset your federal income tax liability, and vice versa. Both taxing authorities do not allow that because it would be too easy for a taxpayer to ‘game’ the system like this,” he adds.

How To Track the Status of Your Wisconsin Stimulus Checks

You won’t get a separate Wisconsin stimulus check when you claim tax credits. These credits will be applied to your income taxes due, and if there are any excess credits left over, you may get a larger refund.

Most e-filed returns are processed by the Wisconsin Department of Revenue within 12 weeks. Paper returns may take longer to process. You can check the status online if you haven’t received the refund in your bank account even after 12 weeks.

How To Apply for Wisconsin’s Stimulus Checks

You can claim the state’s EITC and CDCTC when you file your individual federal and state income tax returns. You don’t need to do anything else. You can either use tax preparation software to file taxes on your own or hire a tax professional if you want to maximize your refund amount.

The IRS also offers a number of free tax filing services for eligible low-income filers, such as Free File, VITA, and TCE.

Check To See If You Qualify for Financial Assistance in Wisconsin

With no new stimulus checks coming for Wisconsin residents, we recommend you take advantage of the state income credits for some tax relief.

If you’re finding it difficult to afford necessities like food, housing, or healthcare, check to see if you qualify for financial assistance programs from the federal government, local government, and nonprofits.

Debt relief programs in Wisconsin offer various solutions, such as credit counseling and debt settlement plans, to help you manage large unsecured debts effectively.

Visit our Illinois stimulus checks, Iowa stimulus checks, and Minnesota stimulus checks pages for information about programs you can apply for in those states.