PDF
Word
This version of the form is not currently in use and is provided for reference only. Download this version of
Form N-168
for the current year.
Form N-168 Income Averaging for Farmers and Fisherman - Hawaii
What Is Form N-168?
This is a legal form that was released by the Hawaii Department of Taxation - a government authority operating within Hawaii. Check the official instructions before completing and submitting the form.
FAQ
Q: What is Form N-168?
A: Form N-168 is a form used for income averaging for farmers and fishermen in Hawaii.
Q: Who can use Form N-168?
A: Form N-168 can be used by farmers and fishermen in Hawaii.
Q: What is income averaging?
A: Income averaging is a method used to reduce taxes by spreading income from a high tax year to lower tax years.
Q: What is the purpose of income averaging for farmers and fishermen?
A: The purpose of income averaging for farmers and fishermen is to account for the fluctuating nature of their income.
Q: How does income averaging work?
A: Income averaging allows farmers and fishermen to calculate their tax liability based on the average of their income over a period of three years.
Q: Are there any eligibility criteria for income averaging?
A: Yes, to be eligible for income averaging, farmers and fishermen must meet certain requirements set by the IRS.
Q: Is income averaging available in other states besides Hawaii?
A: Yes, income averaging may be available in other states, but the rules and forms may vary.
Q: Are there any limitations to income averaging?
A: Yes, there are certain limitations and restrictions on the use of income averaging, so it is advised to consult with a tax professional or the IRS for guidance.
Form Details:
- Released on January 1, 2019;
- The latest edition provided by the Hawaii Department of Taxation;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of Form N-168 by clicking the link below or browse more documents and templates provided by the Hawaii Department of Taxation.
