Due to delayed data from the IRS, we won't be able to publish our Government 10-K by Tax Day.
For 10 years, USAFacts has “filed” the Government 10-K, but it is no mere report. It’s a project that presents government financials with the same level of transparency we, as a nation, require of publicly traded corporations. The Securities and Exchange Commission (SEC) requires public companies to file a Form 10-K annually to detail financial activity, including risk. The government, however, has no such obligation. We decided to do it ourselves on their behalf, to give the taxpayers the same insight into their government that investors would have for a public company.
This year, delayed IRS data — which we rely on for updates on the government’s revenue and details on taxpayers — meant we were unable to meet our Tax Day 10-K publish date for the first time. Without timely and comprehensive data reporting from the government, we can’t do our work to bring that data to you – the American people.
According to the SEC, companies that miss the deadline are required to file an additional, much shorter form (Form 12b-25, to be specific) to explain their need for extra time.
And so, we’re “filing” our own: the Government Form 12b-25. Come back May 1st for a complete 10-K report.