taxYear
A tax year is the annual period used by tax authorities to measure and determine tax liability. It defines the span of time during which income, deductions, credits, and other tax attributes are reported and assessed for tax purposes. The tax year also sets corresponding filing deadlines, payment schedules, and eligibility for refunds or credits.
Across jurisdictions, the length of the tax year and the end date vary. Many countries use the
In the United States, individuals typically use the calendar year as their tax year, while corporations may
Understanding the tax year helps align payroll withholding, estimated tax payments, and annual tax filings, especially