tax year
Annual reporting span
A tax year is the 12-month period used for calculating and reporting income taxes.
In the United States, the tax year for most individuals runs from January 1 through December 31, matching the calendar year, though businesses may elect a different fiscal year.
I earned more in the current tax year than the previous one.
Tax documents, deductions, and filing deadlines all reference specific tax years.
Federal income tax deadline
- due dateWhen payment is required
- extensionAdded part or duration
- deadlineTime limit for completion
- returnGo back again
e-file · 1040 · W-2 · preparation · TurboTax · H&R Block · CPA · quarterly
Earnings before any deductions
- adjusted gross incomeEarnings after initial subtractions
- deductionConclusion from premises
- exemptionRelease from requirement
- bracketSupport or category
rate · withholding · credits · itemize · standard deduction · dependent · charitable contributions · refund
Federal tax collector
- federalDivided governmental authority
- stateCondition or mode
- localOf this area
- treasuryStored organizational funds
revenue service · assessment · collection · compliance · regulation · taxpayer · residency · domicile
Recording financial transactions systematically
- ledgerFinancial record book
- reconciliationRestoration of friendly relations
- financial statementsFormal records of transactions
- balance sheetAssets-liabilities-equity report
profit and loss · revenue · expenses · audit · journal entry · accrual · cash basis · double-entry
April 15
Federal income tax deadline
return · e-file · 1040 · W-2 · preparation · TurboTax · H&R Block · CPA · quarterly · estimated taxes
gross income
Earnings before any deductions
- adjusted gross incomeEarnings after initial subtractions
- deductionConclusion from premises
- exemptionRelease from requirement
bracket · rate · withholding · credits · itemize · standard deduction · dependent · charitable contributions · refund · liability
IRS
Federal tax collector
treasury · revenue service · assessment · collection · compliance · regulation · taxpayer · residency · domicile · cross-border
bookkeeping
Recording financial transactions systematically
- ledgerFinancial record book
- reconciliationRestoration of friendly relations
- financial statementsFormal records of transactions
balance sheet · profit and loss · revenue · expenses · audit · journal entry · accrual · cash basis · double-entry · trial balance
quarters
Assigned living accommodations
Q4 · annual · start date · end date
- years
- Irish taxUSC, standard rate, higher rate, earned income credit, self-assessment
- calendar cycleday, week, month, season, quarter
- time periodsday, month, week, hour, minute
- taxationVAT, withholding, deductions, deduction, taxpayers
- income taxdeductions, IRS, Form 1040, withholding, refund
tax, year, taxing, taxation, sales tax, income tax, taxable, untaxed, estate tax