p17e2eo5ah14lf19t9ms11sjn1ulp6.jpg
Our fourth stat for December breaks down where most individual tax penalties are issued.
p17fbv2920105kbkja2r1c45r4i5.jpg
In 2011, the IRS issued 28.7 million penalties to individual taxpayers. Three penalties -- the failure to file, failure to pay, and estimated tax penalties -- make up almost 98 percent issued to individual taxpayers.

Source: Beyond415; IRS Data Book, 2011

p17eg7jrse1qlompb73u1gt61rc05.jpg
In 2011, the IRS issued more than 38.6 million penalties -- with more than 74 percent going to individual taxpayers.

Source: Beyond415; IRS Data Book, 2011

p17e6639sbn481kv4bq1bqlrd65.jpg
During the past 30 years, IRS interest rates on underpayments have lowered from 20 percent at the end of 1982 to just 3 percent in 2012 — making an IRS loan very inexpensive.

Source: Beyond415; U.S. Federal Register

p17e2enqme1p0t13061b3r1dkc186h5.jpg
For 2011 returns filed through July 2012, high-income individuals reported substantially higher capital gain income as a percentage of adjusted gross income. More than 120 million returns have been filed for 2011 with AGI of less than $100,000. Of those, the average percentage of capital gain income was 0.03 percent. Through July, 2,789 individuals filed for 2011 with AGI of more than $10 million. Those returns present a sharp contrast, with capital gain income representing, on average, more than 38 percent of AGI.

Source: Beyond415; IRS, Cumulative 2012 filing season information for returns processed through July 19, 2012

MORE FROM ACCOUNTING TODAY