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.

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

But Takaichi wants this achieved in the current tax year running to March 31, 2026, Jiji Press, Kyodo News and other media reported on Wednesday and Thursday.

From Barron's

This VTW self-help option will help you to have federal taxes withheld timely, reducing the potential of owing federal taxes at the end of the tax year,” the agency said.

From MarketWatch

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