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What is a tax year? Is it from jan to Dec? I am a new taxpayer and I'm not sure, so thought of asking.




A tax year is an annual accounting period for keeping records and reporting income and expenses. It is considered from January 1st to December 31st every year, and you are required to file federal income tax returns by April 15.

Sub: #1 posted on Tue, 05/30/2017 - 06:36

Barbara Delinsky Barbara Delinsky

(Posts: 331 | Credits: 33.32)

Always pay your tax before the deadline to avoid paying a penalty of 5% of your unpaid tax for the number of months your tax return is late.

Sub: #2 posted on Tue, 05/30/2017 - 23:15

SC SC
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January 1st to December 31st.

Sub: #3 posted on Thu, 06/01/2017 - 04:50

sanderspatricia29 sanderspatricia29

(Posts: 728 | Credits: 75.94)

As a newbie taxpayer, there's a lot to learn...work with a licensed tax attorney to avoid any kind of pitfalls or else you may get picked up for the tax audit.

Sub: #4 posted on Sun, 06/04/2017 - 20:15

paulcahill80 paulcahill80

(Posts: 2359 | Credits: 258.2)

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