When you’re facing difficulties keeping up with bills due to a setback, a Mississippi stimulus check may seem like an attractive option. The federal government has several benefit programs for Americans facing financial hardship, which can help.

Another good option to get some relief is through tax credits, which can help you get a larger tax refund. Read on to learn more about which tax credits you can apply for, how to qualify, and how much you can get.

Is There a Stimulus Check in 2024 for Mississippi?

There are no new Mississippi stimulus checks coming in 2024. The state or federal governments haven’t shared any new stimulus updates. The relief measures introduced during the coronavirus pandemic under the American Rescue Plan and the CARES Act have expired.

If you qualified for the Economic Impact Payment but didn’t receive it, you can still file your tax return before April 15, 2025, to claim the 2021 Recovery Rebate Credit. The federal government has no plans to issue a fourth stimulus check.

Mississippi Stimulus Check 2024

Mississippi doesn’t have any state-level tax credits for individuals. However, you can still claim federal tax credits for individuals, such as the Child Tax Credit (CTC), Earned Income Tax Credit (EITC), and Child and Dependent Care Tax Credit (CDCTC).

“Always work with a tax professional to make sure you get all the deductions you can to save money,” advises Teresa Dodson, a debt expert and the founder of Greenbacks Consulting.

All of these tax credits can help lower your tax bill and may help you get a larger tax refund if you qualify.

How do Mississippi Stimulus Checks Work?

Tax credits are not stimulus programs, but they’re used by the federal and state governments to provide tax relief to eligible low and moderate-income taxpayers.

Tax refunds can be refundable or non-refundable, and they can lower your tax liability on a dollar-for-dollar basis. Nonrefundable credits can reduce your tax bill, but you won’t get a check for any surplus left over. With a refundable credit, you’ll get a refund for any surplus once your tax due is reduced to zero.

Who Is Eligible for Mississippi’s Stimulus Checks?

Federal EITC is determined based on your filing status and income. Here are the general eligibility requirements for the Earned Income Tax Credit (EITC):

  • You must be between the ages of 25 and 65 in 2023.
  • You can’t be claimed as a dependent on someone else’s tax return.
  • You and your spouse (if married) must have a valid Social Security number.
  • You must have lived in the country for over six months.
  • Your investment income should not be more than $11,000.

You must also meet these adjusted gross income limits to qualify 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 claim the federal Child Tax Credit for each qualifying child with a Social Security number. Your dependent must meet these eligibility requirements to be a qualifying child for the tax year 2023:

  • Be under the age of 17 at the end of the year.
  • Be your daughter, son, stepchild, stepbrother, stepsister, eligible foster child, sister, brother, half-sister, half-brother, or a descendant of one of these.
  • Have lived with you for more than six months.
  • Not provide more than half of their required financial support.
  • Be claimed on your tax return as a dependent.
  • Be a U.S. citizen, national, or resident alien.

You must have paid someone to care for a child or dependent to claim the federal Child and Dependent Care Credit (CDCTC). Here are a few more eligibility requirements you must meet:

  • You and your spouse (if married) must have earned income.
  • You must have paid someone else for the care so you could work or look for work.
  • You must file a joint return if you’re married.
  • You must provide the name, address, and the Taxpayer Identification Number of the individual who provided the care.

How Much Do You Receive and When

Here’s the maximum amount of credit you can get through the federal EITC:

  • $600: No qualifying children
  • $3,995: 1 qualifying child
  • $6,604: 2 qualifying children
  • $7,430: 3 or more qualifying children

The Child Tax Credit for the tax year 2023 is $2,000/qualifying child if your modified adjusted gross income was $200,000 or below ($400,000 married couples filing jointly). The credit is reduced by $50 for each $1,000 of income that exceeds this threshold.

The refundable portion of the CTC is up to $1,600, which is known as the additional child tax credit.

The total expenses that you can use to calculate the Child and Dependent Care Tax Credit (CDCTC) must not exceed $3,000 for one qualifying dependent or $6,000 for two or more qualifying dependents. If you received dependent care benefits that you deduct or exclude from your income, you must deduct them from this dollar limit.

How To Track the Status of Your Mississippi Stimulus Checks

You won’t get a Mississippi stimulus check even if you qualify for and claim federal credits. Tax credits are applied to your income tax liability. If there’s any surplus and you’re eligible, you may get a refund in your bank account.

The IRS takes less than three weeks to process electronically filed returns and six to eight weeks for paper returns. If you’ve signed up for direct deposit, you may receive your refund sooner. You can check the status of your refund online on the IRS website.

How To Apply for Mississippi’s Stimulus Checks

You can claim federal tax credits by filing your income tax returns. You don’t need to take any additional steps to apply. There are several ways to file your tax returns, such as using tax preparation software to file returns yourself, hiring a tax professional, or using the IRS’s free tax filing services like Free File, VITA, and TCE.

Get Financial Assistance in Mississippi

While there are no new Mississippi stimulus checks this year, you can claim federal tax credits to lower your tax liability and get a larger refund. We recommend working with a tax professional to determine which tax credits you qualify for so you can maximize your refund.

If you’re struggling to pay for basic necessities like food, housing, and healthcare, we recommend using the Benefit Finder tool to get a list of federal benefits for which you qualify. The government offers many resources and programs to help Americans in need.