tax year

British

noun

a period of twelve months used by a government as a basis for calculating taxes

"Collins English Dictionary — Complete & Unabridged" 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

New temporary deductions for the 2025 tax year include a $6,000 senior deduction, up to $25,000 for qualified tips, and up to $12,500 for overtime pay.

From Barron's

A donor-advised fund is a charitable account where you deduct your contribution in the current tax year, but you can distribute the funds as you please.

From MarketWatch

For the current tax year, the couple owes $62,000 in federal taxes, including $8,000 related to investment income.

From Barron's

The Internal Revenue Service recently announced the newest inflation-adjusted rates for tax year 2026, so I’ll use that.

From MarketWatch

For the 2025 tax year, the standard deduction is $15,750 for individuals and $31,500 for married couples filing jointly.

From The Wall Street Journal

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023