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Fix the Tax Code Friday: Filing Year

by Kelly on January 5th, 2007

Most individual taxpayers are on a calendar year for tax purposes - and that just wrapped up on December 31, 2006.  Business taxpayers, however, may elect to choose their own tax year if there is a business purpose for the election.  So, today’s Fix the Tax Code Friday question is:

Should individual taxpayers be allowed to choose their own tax year?

POSTED IN: individual

1 opinion for Fix the Tax Code Friday: Filing Year

  • Joseph J. Gleason, Jr.
    Jan 8, 2007 at 3:04 pm

    No. Enabling businesses to choose their own tax year works well enough…no need to muddy the waters with even more compliance issues.

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