United States Government Accountability Office GAO November 2011 Report to the Secretary of the Treasury_PART8 potx

Other Accompanying Information
Page 95 GAO-12-165 IRS’s Fiscal Years 2011 and 2010 Financial Statements




INTERNAL REVENUE SERVICE
Other Accompanying Information - Unaudited
For the Years Ended September 30, 2011 and 2010
37
collection gap includes only amounts that have been assessed (a small portion of all noncompliance)
and have not yet reached their statutory collection expiration date. Also, the tax gap includes only tax,
while the collection gap includes tax, penalties, and interest.
Tax Burden and Tax Expenditures
The Internal Revenue Code provides for progressive rates of tax, whereby higher incomes are
generally subject to higher rates of tax. The following graphs and charts present the latest available
information on income tax and adjusted gross income (AGI) for individuals by AGI level and for
corporations by size of assets. For individuals, the information illustrates, in percentage terms, the tax
burden borne by varying AGI levels. For corporations, the information illustrates, in percentage terms,
the tax burden borne by these entities by various sizes of their total assets. The graphs are
representative of more detailed data and analysis available from the Statistics of Income (SOI) office.
Total tax expenditures are the foregone Federal revenue resulting from deductions and credits provided
in the Internal Revenue Code. Since tax expenditures directly affect funds available for government
operations, decisions to forego Federal revenue are as important as decisions to spend Federal revenue.
This is trial version
www.adultpdf.com