All corporations are allowed to choose a calendar year or a fiscal year for Federal tax reporting purposes.

Name: All corporations are allowed to choose a calendar year or a fiscal year for Federal tax reporting purposes.
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There are limitations on the use of a fiscal year in the case of personal service corporations and S corporations. Such entities generally must use the calendar year as their reporting period,but several exceptions to this rule apply (e.g.,business purpose for fiscal year).

All Corporations Are Allowed to Choose a Calendar Year or a Fiscal