Nonprofit to state on tax savings for low-income families: Check - Hawaii News Now - KGMB and KHNL

Nonprofit to state on tax savings for low-income families: Check your math

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HONOLULU (HawaiiNewsNow) -

The state miscalculated the benefits of the federal tax overhaul to low-income families in Hawaii, a new analysis concludes

The source of the confusion: The scope of the tax savings that the child tax credit benefit would offer very low-income families (those earning up to $10,000 a year).

A state calculation released in mid-March said those families would save an average of $1,182 when they file taxes in 2019.

But the Hawaii Budget and Policy Center said the average tax savings would actually be more like $75.

The state has acknowledged it probably overestimated the tax benefits to low-income families, and has taken down a report that included the calculations.

The Hawaii Budget and Policy Center also dinged the state for understating the benefits of the federal tax overhaul to high-income households.

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