### Question
How does the law define required taxable year?


### Answer
Under *26 U.S.C. § 444*, **required taxable year** is defined as:

> the taxable year determined under section 706(b), 1378, or 441(i) without taking into account any taxable year which is allowable by reason of business purposes

#### Citation:
  - *26 U.S.C. § 444*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter E-Accounting Periods and Methods of Accounting > PART I-ACCOUNTING PERIODS**

