Save 75% on Vendor Payment Costs – Join our webinar and get 1 month free trial!
W-2 Filing Available for All Businesses and Individuals
We are pleased to announce that all businesses and individuals can now file W-2 forms with Zenwork. If you previously received a letter from the Social Security Administration (SSA) regarding electronic wage report submissions, please note that the issue has been fully resolved. Our systems are fully operational, and we are processing W-2 and W-2C filings without any disruptions.
Thank you for your continued trust!
1099 Forms
Payroll Forms
STOCK OPTIONS
WAGE TAX FORMS
FORM 592-B
ACA FORMS
1098 FORMS
480 FORMS
Extension Forms
Form 8027
Form 8955-SSA
1042 FORMS
5498 Forms
STATE FILINGS
STATE Payroll Forms
STATE ONLY FILING
WEST
MIDWEST
SOUTH
NORTHEAST
File multiple returns through bulk upload and import data directly via QuickBooks, Xero, etc.
Manage multiple clients with a single sign-on and reduce operation workload with Tax1099.
Create, validate, schedule, and deliver forms effortlessly from a single platform.
Manage W-9, 1099-NEC, and other IRS forms for gig workers with our intuitive platform.
Verify Payees/Merchants with real-time TIN Matching and efile in bulk with our API.
Import and organize your trading data with our real-time data management.
TAX FORM FILING
Data Import & Management
USER & WORKFLOW MANAGEMENT
Validation & Checks
PRINT & DELIVERY
COMPLIANCE & security
ADDITIONAL FEATURES
Integrations
Acquire the help required from our support.
Visual guides to help you work with Tax1099
Stay up to date about latest IRS updates.
Read the real-life success stories of our users.
Explore industry insights & latest updates
The A-Z list for tax-related terms & definitions.
Listen to thought-provoking insights and discussions with experts.
Tools
Δ
Home » Accounting Period
An accounting period is a specific time frame used by businesses to record financial transactions and prepare financial statements. It usually consists of weeks, months, quarters, calendar years, or fiscal years. Accounting periods are essential for tracking financial performance and ensuring accurate financial reporting.
An accounting period provides a structured way to measure a business’s financial performance and helps ensure compliance with financial regulations. It plays a critical role in decision-making for business owners, investors, creditors, and regulatory agencies who rely on accurate financial data.
Helps businesses assess their profitability and financial health by tracking revenues, expenses, and overall financial trends. Regular assessments allow companies to identify growth opportunities and financial risks.
Ensures financial results can be compared across different periods. This helps stakeholders analyze trends, measure performance, and benchmark against industry standards.
Businesses must report financial results within specific accounting periods to comply with IRS regulations, SEC requirements, and other financial reporting standards.
Accurate accounting periods provides reliable financial data for business planning, budgeting, investments, expansion, and cost management.
Most businesses use a 12-month (1-year) accounting period, but the start and end dates can vary based on business needs and tax regulations. The IRS allows taxpayers to choose between a calendar year or a fiscal year for tax reporting.
A calendar year accounting period follows the standard January 1 – December 31 timeline. Many businesses and individuals use this period for financial reporting and tax filing as it aligns with standard tax deadlines.
A fiscal year is a 12-month accounting period that can start on any date instead of following the calendar year. Businesses set their fiscal year based on their operational needs and industry trends.