> A fiscal year is a 12-month period chosen by a company or government to coincide with planning, budgeting, or revenue cycles.
> Financial reports, external audits, and federal tax filings are based on a company's fiscal year.
> Financial reports, external audits, and federal tax filings are based on a company's fiscal year.
And while the fiscal year affects when the company needs to file a tax return, that's not when the company pays taxes which is what the GP claimed. They make estimated payments continuously, once per quarter.