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Level 2
May 27, 2020
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Can Fiscal year be changed, as our 2017 is 10/1/2016-9/30/17, but this seems to do calendar date or the beginning year as the return year. Can this be fixed?

  • May 27, 2020
  • 2 replies
  • 39 views
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Best answer by abctax55

IRS accepted fiscal year in the first year. I even have a letter showing my month end and when my first return was due. 

Whats confusing me is I filed a 2016 return already, per the IRS due date given to me, so its fine to file two 2016 returns?

I am doing it for my own business, I also am a CPA but I am not a tax preparer. I assist the tax associates at my firm as well. My background has nothing to do with the question though.

What its looking like is I would have to do a 2016 and cannot file a 2017 with this fiscal date range in pro connect . and probably amend 2016 and file a 2015... darn it. 

Thanks for the help.


"..My background has nothing to do with the question though."

But it does have something to do with how the volunteers who keep this forum afloat choose to answer.

2 replies

IRonMaN
Level 15
May 27, 2020
Level 2
May 27, 2020

I adopted a tax year in prior year. I need pro connect to show accurate fiscal years on the 2017 return.

sjrcpa
Level 15
May 27, 2020

10/1/2016-9/30/17 is 2016 to the IRS.

The more I know the more I don’t know.
Level 2
May 27, 2020

all amazing answers. I am so thankful for this forum and Thank you all for the help!