IRS says: A short tax year is a tax year of less than 12 months. A short period tax return may be required when you (as a taxable entity):
Are not in existence for an entire tax year, or
Change your accounting period.
Tax on a short period tax return is figured differently for each situation.
Not in Existence Entire Year
Even if you (a taxable entity) were not in existence for the entire year, a tax return is required for the time you were in existence. Requirements for filing the return and figuring the tax are generally the same as the requirements for a return for a full tax year (12 months) ending on the last day of the short tax year.
What is critical is filing the return on a timely basis, which entails filing the 1041 by the 15th day of the 4th month following the close of the tax year.