Investor Glossary-short tax yearInvestor Glossary-short tax yearInvestor Glossary-short tax yearInvestor Glossary-short tax yearInsightful stock market charts - Click here
investor
Categories    # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Short Tax Year

The HTML to link to this page
 

A short tax year is any period of less than 12 months for which a taxable entity is required to pay taxes. A short tax year commonly occurs when a taxable entity (such as a business) has been in operation for less than one full tax year. Another common reason for a short tax year is when a taxable entity (a business or an individual) changes its accounting period by permission of the Internal Revenue Service (IRS). In either case, the taxable entity must file taxes for the short tax year under the general rule. The IRS provides for some relief (reduction in taxes) for cases in which the short tax year distorts income levels. For individuals, a short tax year can occur when the individual dies. Taxes in this case must be filed for the decedent in the same way a living individual would file for the short tax year.



Rate this Short Tax Year definition...

Learn about investing with the Investor Glossary Term of the Day


Click here for insightful stock market charts. Where is the market headed? The answer may surprise you. Find out
with the exclusive & Barron's recommended charts of Chart of the Day.


Popular Terms: 401a, real GDP, inflation, command economy, in escrow, cancelled check, ex-dividend, 1035 exchange, required rate of return, Key Rate Duration, stock market close, margin rate, average price per share, current ratio, deferred tax, Zero Cost Collar, stock split, EBITDA, implied volatility, LIBOR, balance sheet, risk management, FTSE, deferred revenue, per diem, labor relations, retained earnings, debt service coverage, phantom income, ex-dividend date, liquidity ratio, FICO score, 1031 exchange, annual return, option premium, covered put, 144a, wholly-owned subsidiary, irrevocable trust, APR, reverse mortgage, minority interest, open position, VIX, quality assurance, class C shares, dividends payable, limit order, diluted share


Accounting | Banking | Bonds | Brokers | Economy | Futures | Mutual Funds | Options | Real Estate | Retirement | Stocks | Taxes | Technical Analysis
Investor Glossary | Term of the Day | Suggest a Term | Chart of the Day | Dogs of the Dow
©2004-2016 Investor Glossary - All rights reserved - Terms of Use