Tax Season

Tax Season refers to the period, typically occurring annually in the spring, during which individuals and businesses prepare and file their income tax returns with the relevant tax authorities. In many countries, this period is marked by the deadline for submitting tax returns and paying any owed taxes. Tax Season can involve gathering financial documents, calculating income, and determining deductions or credits to minimize tax liability. It is often characterized by increased activity in accounting firms and financial services, as taxpayers seek assistance in accurately completing their returns. In the United States, for example, Tax Season generally starts on January 1 and ends on April 15, though deadlines may vary based on extensions or specific circumstances.