What is meant by a tax year?
Date: Tue, 05/30/2017 - 05:30
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
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.
Always pay your tax before
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.
As a newbie taxpayer, there's
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.
