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Taxpayers urged to check eligibility

The Internal Revenue Service said more than 77,000 Hawaii taxpayers claimed the earned income tax credit for 2002 and it is encouraging state residents to check to see if they are eligible for the credit while preparing returns this year for 2003.

The earned income tax credit is a federal credit for working taxpayers with lower incomes who meet certain income and eligibility guidelines. Many taxpayers who qualify for the credit also may be eligible for free tax preparation and electronic filing by participating tax professionals and volunteers.

Last year, Hawaii taxpayers collected $121 million for their 2002 returns. Nationally, more than 20 million taxpayers received more than $36 billion in earned income tax credit payments.

Earned income tax credit eligibility rules can be found in Fact Sheet 2004-8 in Publication 596 and through links at 1040 Central on IRS.gov. There also is a new earned income tax credit information kit at www.irs-eitc.info/preparer/ and a new took kit in Publication 3107E.

The maximum refundable credit for the 2003 tax year is $4,204 for a family with two or more qualifying children, $2,547 for a family with one qualifying child and $382 if there are no qualifying children. Many taxpayers qualify for less than the maximum, depending on their income.

Entries needed for Ilima Awards

The International Association of Business Communicators, Hawaii Chapter, has issued a call for entries for its annual Ilima Awards honoring excellence in business communications.

Communications professionals and students may enter work in print or other media produced between Jan. 1, 2003, and Dec. 31, 2003, for consideration in several categories.

The fee per entry ranges from $10 for student members of IABC and $15 for students who are not members to $35 for working professionals who are IABC members and $55 for nonmembers.

The entry deadline is 5:30 p.m. Feb. 13. Winners will be notified in mid-March and the awards will be presented at a ceremony April 8.

Entry forms may be obtained by contacting Su Shin at 531-6087 or via the Web at http://iabchawaii.com/.