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tax year
(redirected from tax years)

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Tax Year
The year during which one's taxable income is considered. That is, the tax year is any 12-month period during which a government calculates one's tax liability. Normally, this is simply the calendar year, but it may also be a fiscal year.

tax year
The 12-month period for which tax is calculated. For most individual taxpayers, the tax year is synonymous with the calendar year.

tax year
The accounting year selected by a taxpayer for purposes of determining annual taxable income. A new company may select any tax year it desires—July 23 through July 22, for example—and need not use the standard individual tax year of January 1 through December 31.
Tax Year
The calendar year or fiscal year for which the taxable income is computed.


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Instead it may claim a refundable credit for a portion of its unexpired and unused research and/or AMT credit attributable to tax years beginning before January 1, 2006.
Not only could this mean a special tax refund, but the refund could be larger, because the loss is being spread over as many as five tax years, rather than just two.
[ILLUSTRATION OMITTED] The Emergency Economic Stabilization Act made a couple of changes to the research credit: The credit rate under the alternative simplified credit (ASC) method is increased from 12% to 14%, but only for tax years ending after Dec.
 
 
 
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