TN 16 (09-24)

RS 01803.045 Taxable Year of Less Than 12 Months

POLICY

1. Short Taxable Year

A period of less than 12 months may be a taxable year if:

  • The basis for computing and reporting income changes, e.g., fiscal to calendar year, or

  • The taxpayer dies, (the taxable year ends on the date of death, and net earnings are computed as of the date of death.)

  • The taxable year is closed by the Commissioner of IRS.

2. Exclusion

An individual's taxable year is not ended by them going out of business.


To Link to this section - Use this URL:
http://policy.ssa.gov/poms.nsf/lnx/0301803045
RS 01803.045 - Taxable Year of Less Than 12 Months - 09/24/2024
Batch run: 09/24/2024
Rev:09/24/2024