Question

An S corporation tax years for 2018-2020 end on 12/28/2018 12/27/2019, and 12/25/2020. This is a:

Answer 1

This is example of 52-53-week tax year.

Explanation

A 52-53-week tax year is a fiscal tax year that varies from 52 to 53 weeks but does not have to end on the last day of a month.

52-53-week tax year must always end on:

• Whatever date this same day of the week last occurs in a calendar month, or
• Whatever date this same day of the week falls that is nearest to the last day of the calendar month.

In this case, all the dates given is Friday closest to each December 31, hence it is perfect example of 52-53 week tax year.