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Meaning of "tax year" in the English dictionary

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DICTIONARY
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PRONUNCIATION OF TAX YEAR

tax year play
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GRAMMATICAL CATEGORY OF TAX YEAR

noun
adjective
verb
adverb
pronoun
preposition
conjunction
determiner
exclamation
Tax year is a noun.
A noun is a type of word the meaning of which determines reality. Nouns provide the names for all things: people, objects, sensations, feelings, etc.

WHAT DOES TAX YEAR MEAN IN ENGLISH?

Fiscal year

A fiscal year is a period used for calculating annual financial statements in businesses and other organizations. In many jurisdictions, regulatory laws regarding accounting and taxation require such reports once per twelve months, but do not require that the period reported on constitutes a calendar year. Fiscal years vary between businesses and countries. The "fiscal year" may also refer to the year used for income tax reporting. Some companies choose to end their fiscal year on the same day of the week, such day being the one closest to a particular date. Under such a system, some fiscal years will have 52 weeks and others 53 weeks. Major corporations that adopt this approach include Cisco Systems. Nevertheless, the fiscal year is identical to the calendar year for about 65% of publicly traded companies in the United States and for a majority of large corporations in the UK and elsewhere. Many universities have a fiscal year which ends during the summer, both to align the fiscal year with the school year, and because the school is normally less busy during the summer months. In the northern hemisphere this is July in one year to June in the next year.

Definition of tax year in the English dictionary

The definition of tax year in the dictionary is a period of twelve months used by a government as a basis for calculating taxes.

WORDS THAT BEGIN LIKE TAX YEAR

tax immunity
tax incentive
tax increase
tax inspector
tax levy
tax liability
tax loophole
tax loss
tax net
tax preparer
tax rate
tax rebate
tax refugee
tax relief
tax return
tax revenue
tax schedules
tax shelter
tax tables
tax-collecting

WORDS THAT END LIKE TAX YEAR

academic year
accounting year
base year
calendar year
financial year
first year
fiscal year
gap year
great year
leap year
light year
lunar year
off year
peak year
school year
senior year
sixth year
solar year
taxable year
vintage year
year

Synonyms and antonyms of tax year in the English dictionary of synonyms

SYNONYMS

Translation of «tax year» into 25 languages

TRANSLATOR
online translator

TRANSLATION OF TAX YEAR

Find out the translation of tax year to 25 languages with our English multilingual translator.
The translations of tax year from English to other languages presented in this section have been obtained through automatic statistical translation; where the essential translation unit is the word «tax year» in English.

Translator English - Chinese

税务年度
1,325 millions of speakers

Translator English - Spanish

año fiscal
570 millions of speakers

English

tax year
510 millions of speakers

Translator English - Hindi

कर वर्ष
380 millions of speakers
ar

Translator English - Arabic

السنة الضريبية
280 millions of speakers

Translator English - Russian

налоговый год
278 millions of speakers

Translator English - Portuguese

ano fiscal
270 millions of speakers

Translator English - Bengali

কর বছরের
260 millions of speakers

Translator English - French

année fiscale
220 millions of speakers

Translator English - Malay

Tahun cukai
190 millions of speakers

Translator English - German

Steuerjahr
180 millions of speakers

Translator English - Japanese

会計年度
130 millions of speakers

Translator English - Korean

과세 연도
85 millions of speakers

Translator English - Javanese

Taun pajak
85 millions of speakers
vi

Translator English - Vietnamese

năm thuế
80 millions of speakers

Translator English - Tamil

வரி வருடம்
75 millions of speakers

Translator English - Marathi

कर वर्ष
75 millions of speakers

Translator English - Turkish

vergi yılı
70 millions of speakers

Translator English - Italian

anno fiscale
65 millions of speakers

Translator English - Polish

rok podatkowy
50 millions of speakers

Translator English - Ukrainian

податковий рік
40 millions of speakers

Translator English - Romanian

an fiscal
30 millions of speakers
el

Translator English - Greek

φορολογικού έτους
15 millions of speakers
af

Translator English - Afrikaans

belasting jaar
14 millions of speakers
sv

Translator English - Swedish

taxeringsår
10 millions of speakers
no

Translator English - Norwegian

inntektsåret
5 millions of speakers

Trends of use of tax year

TRENDS

TENDENCIES OF USE OF THE TERM «TAX YEAR»

The term «tax year» is quite widely used and occupies the 25.338 position in our list of most widely used terms in the English dictionary.
0
100%
FREQUENCY
Quite widely used
89
/100
The map shown above gives the frequency of use of the term «tax year» in the different countries.
Principal search tendencies and common uses of tax year
List of principal searches undertaken by users to access our English online dictionary and most widely used expressions with the word «tax year».

FREQUENCY OF USE OF THE TERM «TAX YEAR» OVER TIME

The graph expresses the annual evolution of the frequency of use of the word «tax year» during the past 500 years. Its implementation is based on analysing how often the term «tax year» appears in digitalised printed sources in English between the year 1500 and the present day.

Examples of use in the English literature, quotes and news about tax year

EXAMPLES

10 ENGLISH BOOKS RELATING TO «TAX YEAR»

Discover the use of tax year in the following bibliographical selection. Books relating to tax year and brief extracts from same to provide context of its use in English literature.
1
U.S. Master Tax Guide
Partnership Tax Year 416. Required Tax Year. Generally, a partnership cannot have a tax year other than its "majority-interest taxable year" (Code Sec. 706 (b) ) .39 This is the tax year that, on each "testing day," constitutes the tax year of one ...
CCH Editorial Staff Publication, 2008
2
Business Tax Answer Book
Example 5-1: If a new tax provision applies to tax years beginning on or after July 1, 2009, a 52-53 week tax year beginning on June 24, 2009, is treated as beginning on July 1, 2009. Q 5:3 Can a business change to or from a 52-53 week tax ...
Terence M. Myers, Dorinda D. DeScherer, 2008
3
Tax Savvy for Small Business
Fiscal Year Period Small enterprises rarely choose a fiscal year instead ofa calendar tax year. A fiscal year is a one-year period ending on the last day of any month except December. Sole proprietors, partnerships, limited liability companies, ...
Frederick W. Daily, 2011
4
Concepts in Federal Taxation 2013
A partnership can use a taxable year other than that prescribed by the hierarchical rules if it can establish to the IRS's satisfaction that a valid business purpose exists for having a different tax year.32 To establish a business purpose tax year ...
Kevin Murphy, Mark Higgins, 2012
5
U.S. Master Tax Guide
Required Tax Year. Generally, a partnership cannot have a tax year other than its "majority-interest taxable year" (Code Sec. 706(b)) ,39 This is the tax year that, on each "testing day," constitutes the tax year of one or more partners having an ...
CCH Incorporated, 2007
6
Every Nonprofit's Tax Guide: How to Keep Your Tax-Exempt ...
When to File Your Return No matter which form your nonprofit uses, the deadline for filing is the same: it is due by the 15th day of the fifth month after the end of your nonprofit's tax year—that is, four and one-half months after the end of the tax  ...
Stephen Fishman, 2013
7
Income Tax Fundamentals
Individuals reporting tax income on a fiscal year other than a calendar year are extremely rare since the tax system is set up to accommodate calendar-year taxpayers. However, there are no restrictions on an individual taking a tax year other ...
Gerald E. Whittenburg, Martha Altus-Buller, 2011
8
Tax Law Design and Drafting
Permission should be granted only when the taxpayer demonstrates a legitimate need to use a substitute tax year." To ensure that there is no loss or unacceptable deferral of tax resulting from the move to or from a substitute tax year, the tax ...
Victor Thuronyi, 1998
9
U.S. Master Depreciation Guide (2008)
MACRS Short Tax Years 11132 Applicable Convention Refinements MACRS deductions are determined on a tax-year basis. In contrast, the applicable recovery period of an asset consists of recovery (12-month) years without regard to the ...
CCH Tax Law Editors, 2007
10
Earned income credit IRS' tax year 1994 compliance study and ...
Although the results of the tax year 1994 EIC compliance study were the catalyst behind congressional funding of the compliance initiative, IRS does not plan to use those results as the baseline for measuring the initiative's impact on the EIC ...

3 NEWS ITEMS WHICH INCLUDE THE TERM «TAX YEAR»

Find out what the national and international press are talking about and how the term tax year is used in the context of the following news items.
1
A Look at the Tax Year 2015
To that end, here's a guide to some of the tax rates, deductions and contribution limits for the 2015 tax year—as well as a look at filings and refunds over the past ... «Wall Street Journal, Apr 15»
2
Barack Obama says tax rates are lowest since 1950s for CEOs …
So, for five tax years -- 1988 through 1992 -- the top tax bracket had a lower rate than today's top bracket. Put another way, out of 52 tax years since 1960, the top ... «PolitiFact, Jun 11»
3
Standard Tax Deduction Amounts | Bankrate.com
The amounts are adjusted each tax year for inflation. ... 1, the IRS considers you age 65 for the previous tax year and you may claim the larger standard ... «Bankrate.com, Jan 11»

REFERENCE
« EDUCALINGO. Tax year [online]. Available <https://educalingo.com/en/dic-en/tax-year>. Apr 2024 ».
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