Formula for last day of the year

Is there any formula to capture last day of the year? currently used a hardcode date for my formula, but I am looking for a method to automate it so that in a year change there is no issue. Thanks

maybe something like


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Does this work for every year automatically? or do I need to change it once the year has changed?

It should return the last day of the year automatically. Also you can do


You want to have the last day of the year or the latest day of the year related to your dataset