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What months are quarterly for a fiscal year?

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Answer:

The U.S. government's fiscal year begins on October 1 of the previous calendar year and ends on September 30 of the year with which it is numbered. Prior to 1976, the fiscal year began on July 1 and ended on June 30. The Congressional Budget and Impoundment Control Act of 1974 stipulated the change to allow Congress more time to arrive at a budget each year, and provided for what is known as the "transitional quarter" from July 1, 1976 to September 30, 1976. As stated above, the tax year for a business is governed by the fiscal year it chooses.

For example, the United States government fiscal year for 2010 ("FY 2010" or "FY10") is as follows:

1st Quarter: October 1, 2009 - December 31, 2009
2nd Quarter: January 1, 2010 - March 31, 2010
3rd Quarter: April 1, 2010 - June 30, 2010
4th Quarter: July 1, 2010 - September 30, 2010

First answer by ID1652507515. Last edit by ID1652507515. Question popularity: 3 [recommend question].

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