Slideshow Tax Stats: December 2012

Published
  • December 10 2012, 7:11am EST
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Our fourth stat for December breaks down where most individual tax penalties are issued.

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

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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


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


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