tax year


Also found in: Thesaurus, Medical, Legal, Financial, Acronyms, Encyclopedia, Wikipedia.

tax year

n
(Accounting & Book-keeping) a period of twelve months used by a government as a basis for calculating taxes
Translations

tax year

nanno fiscale
References in periodicals archive ?
A tax year may be either a calendar year, which is a period of 12 consecutive months ending on Dec.
Qualified Dividends: This type of income generally consists of dividends received during the tax year from domestic corporations and qualified foreign corporations--subject to holding period requirements and certain exceptions.
In certain circumstances, revenue procedure 71-21 allows accrual-method taxpayers to defer inclusion of payments received (or amounts due and payable) in one tax year if attributable to services to be performed by the end of the next.
The most significant changes in the 2002 tax year for small businesses are an increase in the maximum contribution to retirement plans, a section 179 depreciation increase to $24,000 for equipment and property purchases, and a special depreciation allowance for companies that purchased equipment and property after September 10, 2001.
The study stated that since principal amounts of underpaid or overpaid taxes in barred years are not considered in adjusting taxpayers' other tax year accounts, it does not make sense to consider the interest that was charged or paid with respect to those underpayments or overpayments.
That way, you won't have to pay taxes on it until the 1997 tax year.
You and/or your spouse participate in the operation of your woodland activity for more than 500 hours during the tax year.
Form 1040ES Estimated Payment - Tax Year 2006 (Ends January 31, 2007)
Months of deferral are counted by going forward from the proposed LLC year end to the members' year ends, using the information available at the beginning of the current tax year.
179 ($100,000 indexed for inflation) for two years, through the 2007 tax year.
In addition, a 6% excise tax applied to excess contributions to an education IRA, under code section 4973 (that is, contributions for the tax year that exceeded the allowed limit--$500--or that were also contributed to a QSTP program for the same beneficiary).
Similarly, the IRS will not net interest where an unpaid deficiency in one tax year overlaps with an overpayment that the IRS has already paid for a different tax year.