…But Tom Yamachika, president of Tax Foundation Hawaii said if you think you owe money, you must pay it before the deadline.
“The extension of time to file is not an extension of time to pay,” said Yamachika. “You do need to make sure that you’ve estimated what you think you might owe and get that in before the deadline — April 18 for federal, and April 20 for state.”
“Otherwise, there may be penalties when you do file,” he added.
If you are looking for ways to benefit, Yamachika encourages people to look at the tax credits available to Hawaii residents.
You need to read the instructions carefully to find credits you qualify for.
“Some of these credits and things are not easy to find,” said Yamachika. “And it looks like our Department of Tax may have made them that way, but don’t let them win.”
“There’s also a food and excise tax credit for those people making less than a certain amount of money.”
Yamachika says if you’ve already filed and find out that there is a tax credit that you do qualify for but didn’t claim it, you can amend your return….