What Is a Fiscal Year?
A fiscal year is a 12-month period that a government or organization uses for budgeting and financial reporting, which may differ from the calendar year. For example, the US federal government's fiscal year runs from October 1 to September 30, and many companies choose a fiscal year that ends after their busiest season.
Naming
A fiscal year is usually named after the calendar year in which it ends, so the US federal fiscal year ending September 30, 2027 is FY2027.
Tax Year
For most individuals, the tax year is the calendar year, though some countries use a different tax year.
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🔗 Related Terms
More Time & Dates Terms
- 24-Hour Clock (Military Time)
- Calendar Quarter
- Chronological Age
- Coordinated Universal Time (UTC)
- Day of the Year
- Daylight Saving Time (DST)
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Last updated: September 27, 2026. This definition is for general educational purposes only. It is not financial, investment, tax, legal, or medical advice, and it does not recommend any product or course of action. For decisions about your own situation, consult a qualified professional.