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Don't Miss These Available Tax Credits
The Hawaiʻi Department of Taxation encourages Hawaiʻi’s families to include available tax credits when filing their 2023 individual income taxes. These tax credits include:
Refundable Earned Income Tax Credit: This credit equals 40% of the federal earned income tax credit allowed and properly claimed under Internal Revenue Code section 32. Eligible taxpayers must attach Form N-356 to their income tax return.
Low-Income Household Renters Tax Credit: This tax credit is worth $50 per qualified exemption. An eligible taxpayer must Have less than $30,000 in adjusted gross income, have paid more than $1,000 in rent during the tax year, be a resident in Hawaiʻi for more than nine months during the tax year, and not be claimed as a dependent by any other taxpayer. Eligible taxpayers must attach a Schedule X to their income tax return.
Child and Dependent Care Expenses Tax Credit: If a taxpayer maintained a household that included a child under age 13 or a dependent or spouse incapable of self-care, the taxpayer may be allowed this credit for expenses paid during the taxable year to care for the dependent so the taxpayer could work. However, the taxpayer cannot be claimed as a dependent by any other taxpayer for federal or Hawaiʻi purposes. The cap on employment-related expenses for the credit is $10,000 for one qualifying individual and $20,000 for two or more qualifying individuals. The eligible taxpayer must attach a Schedule X to their income tax return.
Refundable Food/Excise Tax Credit: An eligible taxpayer must have had a federal adjusted gross income of less than $60,000 (or less than $40,000 if their filing status is single). The credit amount (up to $220) is multiplied by the number of qualified exemptions. Eligible taxpayers must attach Form N-311 and Schedule CR to their income tax return. Eligible residents may use the new simplified Form N-11SF to claim this credit, but only if certain requirements are met.
New Simplified Tax Form N-11SF: The department recently released the N-11SF, a simplified individual income tax form for taxpayers whose 2023 federal and Hawaiʻi adjusted gross incomes are zero. Other requirements apply to be able to use this form, and it cannot be filed electronically.
For more help, visit https://tax.hawaii.gov for additional information, forms, and guidance on filing individual income tax returns or other tax returns. If taxpayers cannot resolve an issue after reading form instructions and searching the department website, Taxpayer Services agents are available by phone at 808-587-4242 Monday through Friday from 8 a.m. to 4 p.m.
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