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15 March 2017
Regular commentary from our experts on topical tax issuesIssue 3As one tax year ends
and another begins it
is important to focus
on:Yearend wrap and 2018
year planningWhat needs to be
done
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What is as one tax year?
As one tax year is a method of filing taxes where the taxpayer reports income and deductions for the entire year, rather than splitting them up over multiple tax years.
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Individuals or businesses who meet certain criteria set by the tax authorities are required to file as one tax year.
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To fill out as one tax year, the taxpayer must gather all necessary financial information, complete the tax forms accurately, and submit them to the tax authorities by the deadline.
What is the purpose of as one tax year?
The purpose of as one tax year is to simplify the tax filing process and provide a more accurate picture of the taxpayer's financial situation for that specific year.
What information must be reported on as one tax year?
On as one tax year, the taxpayer must report their total income, deductions, tax credits, and any other relevant financial information for the entire tax year.
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