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 . 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. 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. 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