tax year

(redirected from Taxable Years)
Also found in: Financial.

tax year

n
(Accounting & Book-keeping) a period of twelve months used by a government as a basis for calculating taxes
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
Translations

tax year

nanno fiscale
Collins Italian Dictionary 1st Edition © HarperCollins Publishers 1995
References in periodicals archive ?
110 are for violation of provisions of the Tax Code for willful attempt to evade or defeat tax and failure to file return, supply correct and accurate information, pay tax, withhold and remit tax and refund excess taxes withheld on compensation for taxable years 2017-2018.
It is settled in jurisprudence that once the option to carry over the excess and apply the excess quarterly income-tax payments against income-tax due for the taxable quarters of the succeeding taxable years has been made, such option shall be considered irrevocable for that taxable period and no application for cash refund or issuance of a TCC shall be allowed.
Generally, this means changing the due date from March 15 to April 15 for corporations, and from April 15 to March 15 for partnerships, for taxable years beginning on or after January 1, 2016 (2016 Budget Act, Part Q).
This change to the understatement measurement is effective for taxable years beginning on or after Jan.
In fact, Calata's annual income tax return for taxable years 2009 to 2010 revealed that he only paid an amount of P10,000 for each year and P100,000 for taxable year 2011, the BIR said in a statement.
Planning Point: This interest surcharge on installment sales with deferred payments can be minimized in some cases by splitting the sale between a husband and wife, and in two taxable years. For example, a $20 million business owned by a couple could be split into two $10 million sales, and the transaction could be completed in two stages: $5 million per spouse in December, followed by $5 million per spouse in January.
Last Congress, bills were introduced in the House and Senate (S 2462 and HR 4006) that would allow start-up small partnerships and S corporations (that is, those with gross receipts less than $5 million) to elect taxable years other than the calendar year (for example, a July 1 to June 30 taxable year).
The 2006 regulations are proposed to be effective only for "taxable years beginning one year after the first day of the first taxable year following the publication of a Treasury Decision adopting the rule as a final regulation." (38) Therefore, if the regulations are finalized during 2007, they will be effective for calendar year taxpayers beginning January 1, 2009.
(3) the amount of such deduction exceeds $3,000, then the tax imposed by this chapter for the taxable years shall be the lesser of the following:
The temporary regulations are effective for taxable years beginning after 2002 and before 2006.