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Individuals can already change their tax year if they specifically request to do so, though it's contingent on IRS approval. I have no idea how likely the IRS i
by slavik81 9y ago
Individuals can already change their tax year if they specifically request to do so, though it's contingent on IRS approval. I have no idea how likely the IRS is to grant approval, but clearly there are existing rules to handle non-calendar years.
https://en.wikipedia.org/wiki/Fiscal_year#Tax_year https://en.wikipedia.org/wiki/Fiscal_year#Tax_year
- Y7ZCQtNo39 9y agoHow does this work if you get something like a W2, which is issued for the calendar year? Let's say your "personal" tax year starts and ends July 1 of each year. Are you supposed to split your W2 in half and count each for each year? Sounds quite complex. I'm surprised they permit it.