Step 1: Tuck the corners from one side of the fitted sheet into the corners on the opposite side, point to point. Repeat with the other set of corners.
Step 2: Similar to step 1, we're back to tucking in corners. This time, tuck one set of corners into the opposite set of corners.
Step 3: Fold in the two elastic sides to create straight edges. Then, go ahead and fold the sheet as you would with a flat sheet. And voila: that near square you never thought was possible.