Final answer:
A fiscal tax year can only end on the last day of December, contrary to the given statement.
Step-by-step explanation:
False. A fiscal tax year can only end on the last day of December. A fiscal year is a period of 12 months that is used for financial reporting and budgeting purposes by businesses and organizations. In the United States, the fiscal year for most businesses and organizations aligns with the calendar year and ends on December 31st. However, there are exceptions where a business or organization may choose to have a different fiscal year, but it still must end on the last day of a month, and December is a common choice.