TN 9 (02-98)

RS 01803.040 Taxable Year

A. POLICY

The term “taxable year” has the same meaning as when used in the IRC.

B. DEFINITIONS

  • Calendar Year — accounting period of 12 months ending the last day in December.

  • Fiscal Year — an accounting period of 12 months ending on the last day of any month other than December, (for tax reporting purposes, the business taxable year must coincide with the individual's personal taxable year).

  • Taxable Year — an accounting period of 52 or 53 weeks always ending on the same day of the week, but never a period longer than 53 weeks.


To Link to this section - Use this URL:
http://policy.ssa.gov/poms.nsf/lnx/0301803040
RS 01803.040 - Taxable Year - 03/17/1998
Batch run: 01/27/2009
Rev:03/17/1998