Taxable Year

Taxable Year may have one of the following meanings, depending the context of the term:

1. the period (usually 12 months) during which the tax liability of an individual or entity is calculated.

2. in the case of certain nontaxable entities, the period for which tax information is provided.

See also short tax year. Former IRC (check if this IRC provision is current here) §441. See this term in the American Encyclopedia of Law.