What is the current tax year in the United States?

Question

Knowing the current tax year helps individuals and businesses organize income records, deductions, and tax documents correctly. The tax year covered by a return may differ from the calendar year in which the return is filed. How do you keep track of tax-year deadlines and prepare your financial records ahead of filing season?

William · Answer

The current tax year for federal income tax purposes is 2024. This calendar year began on January 1, 2024, and will end on December 31, 2024. For most individual filers, the deadline to file returns for this period is April 15, 2025. Please note that specific state deadlines may vary, and business entities with different fiscal years should consult their respective accounting calendars to determine their applicable tax periods.

Joe · Answer

For most U.S. taxpayers, the current tax year is 2026. Tax returns for that year are generally filed in 2027, although some tax situations can follow different fiscal-year schedules.

Answers