As of January 2026, the U.S. federal government is in Fiscal Year 2026 (FY26), which began on October 1, 2025, and ends on September 30, 2026. The current period is the second quarter (Q2), spanning January 1, 2026, to March 31, 2026.
Federal government
The current fiscal year is the fiscal year 2026 and is abbreviated FY26 or FY2025-26. It began 1 October 2025 and will end on 30 September 2026. Source: Fiscal years are used by the United States federal government for accounting purposes.
Both FY24 (no space) and FY 24 (with a space) are used for Fiscal Year 2024, with FY24 being common for saving space (charts, web) and FY 24 often used after spelling it out first or in formal contexts, though style guides vary, with some preferring the acronym as a block like FY24 or even FY2024, but generally, the year the fiscal period ends is used, so it covers parts of 2023 and 2024.
Q1: January, February, March. Q2: April, May, June. Q3: July, August, September. Q4: October, November, December.
Fiscal years are named using the year when the period ends. For example, the US federal government fiscal year starts on October 1, 2024 and ends on September 30, 2025, this is referred to as FY25. Read more on how you can get prepared for the end of fiscal year.
Key Takeaways. The federal government spends money on a variety of goods, programs, and services to support the American public and pay interest incurred from borrowing. In fiscal year (FY) 2025, the government spent $7.01 trillion, which was more than it collected (revenue), resulting in a deficit.
As of January 2026, most entities are in Fiscal Year 2026 (FY26), having moved from FY25 (July 2024-June 2025 or Oct 2024-Sept 2025) into the new fiscal year, with the US Federal Government's FY25 ending September 30, 2025, and their FY26 starting October 1, 2025.
Q1 2025: January 1 to March 31. Q2 2025: April 1 to June 30. Q3 2025: July 1 to September 30.
You say Q4, which is the standard and most common way to refer to the fourth quarter in business and finance, though 4Q is also used and understood, but less frequently, with both indicating the final three months of a fiscal period. Q4 (October 1 - December 31 for calendar years) is the widely accepted shorthand for the final quarter, making it clearer and more concise in reports and discussions.
For example, a company's Fiscal Year 2025 (often abbreviated as FY2025 or FY25) may run from Feb. 1, 2025, to Jan. 31, 2026.
A1: The tax year 2024-25 starts on April 6, 2024, and ends on April 5, 2025.
Calendar year – 12 consecutive months beginning January 1 and ending December 31. Fiscal year – 12 consecutive months ending on the last day of any month except December.
As of January 2026, most entities are in Fiscal Year 2026 (FY26), having moved from FY25 (July 2024-June 2025 or Oct 2024-Sept 2025) into the new fiscal year, with the US Federal Government's FY25 ending September 30, 2025, and their FY26 starting October 1, 2025.
A calendar year is a 12-month period that runs from Jan. 1 to Dec. 31 and is commonly used for individual and corporate taxation. It represents the civil year, consisting of 365 days or 366 in a leap year.
Generally, taxpayers must file Form 1128 to adopt, change, or retain a tax year.
The document presents the calendar for Quarter 2 of 2025, detailing the months of April, May, and June.
Yes, for the U.S. Federal Government and many businesses, Fiscal Year (FY) 2025 ran from October 1, 2024, to September 30, 2025, meaning it has just ended or is ending in September 2025, but for other entities like some states and educational institutions, FY 2025 might be July 1, 2024, to June 30, 2025, so it's ending now, while FY 2026 (July 1, 2025 – June 30, 2026) is starting.
A quarter is a 3-month period, and is usually used in retail to budget and report sales, as well as the company's financial results. A year has 4 quarters, and they are abbreviated to Q1, Q2, Q3 & Q4. LIMITED TIME: Join us now and save 20%!
It's currently Fiscal Year (FY) 2026 for many entities, including the U.S. Federal Government (starting Oct 1, 2025, ending Sept 30, 2026) and many state/academic institutions (July 1, 2025 - June 30, 2026), but it depends on the specific organization's chosen 12-month period; some, like Apple or Microsoft, have different fiscal year-ends (e.g., Apple ends in Sept, Microsoft in June).
This year also starts on the 1st of April and ends on the next year's 31st of March. This is the year proceeding with the financial year for which the finances are taxed. So, for the current financial year 2025-26, the assessment year will be 2026-27 that is from the 1st of April 2025 to the 31st of March, 2026.
Forty-six states begin fiscal year 2026 on July 1, 2025.
House Passes FY25 Bill That Advances American Leadership and Security, Supports Allies. Washington, D.C. – Today, the House of Representatives met to consider the State, Foreign Operations, and Related Programs Appropriations Act, 2025 . The measure was approved by a vote of 212 to 200.
In fiscal year 2025, which ended on September 30, the federal budget deficit totaled $1.8 trillion—a decrease of $41 billion (or 2 percent) from the shortfall recorded in the previous year. Revenues and outlays alike increased from 2024 totals.