.webp)
Compliance & Policy
Tax Time: Key Employee Reminders
Tis the season for tax returns. We are about 30 days away from the perennial IRS due date. More than half of individuals file their annual federal income tax returns before April 1st, with the majority of the remaining filers submitting during the first two weeks of April, while approximately 5%request an extension to file until October 15th, according to a Tax Attorney Dail study in 2019. According to IRS data, roughly 10% of individuals do not file their taxes, though it's possible that the actual number is even higher. Despite the sheer number of non-filers, some may evade detection, but with modern technology, it is becoming increasingly challenging to remain undetected by the IRS indefinitely.
March 16, 2023