(1) Any person, individual, or corporation required by the provisions of KRS 160.605 to 160.611 and 160.621 to 160.633 to file any return or report or furnish any information requested under the authority of KRS 160.605 to 160.611 and 160.621 to 160.633 who fails to file such return or report or furnish such information on or before the date required shall pay a penalty in the amount of ten dollars ($10) for each failure.
(2) Any person, individual, or corporation who fails to pay, on or before the due date, any school tax authorized by KRS 160.605 to 160.611 and 160.621 to 160.633 and levied by the district board of education shall pay a penalty of one percent (1%) per month of the amount of such tax past due until paid.