Authority and currency
About this authority
- Publisher
- Internal Revenue Service
- Standing
- Primary authority
- Version
- January 2022 revision; IRS publication page checked September 6, 2026
- Relevant parts
- Accounting periods and accounting methods
- Currency
- current · checked Sep 6, 2026
The Internal Revenue Service (IRS) publication explains federal tax accounting periods and methods. Its fiscal-year discussion supports the limited point that a reporting year need not end on December 31.
Tax rules do not determine the accounting requirements for general-purpose financial statements. Use the applicable financial-reporting guidance for those questions. The linked publication is the January 2022 revision; check the IRS publication page for developments before using it for a current tax question.