Romney camp: No further tax returns, despite 'audit' remark
July 30th, 2012
01:25 PM ET
2 years ago

Romney camp: No further tax returns, despite 'audit' remark

(CNN) - Mitt Romney's campaign said Monday they would not release any more of the candidate's personal income tax information, despite an acknowledgement from Romney that he had been audited in the past.

"Mitt Romney has paid his taxes in full compliance with U.S. Law, and he has paid 100 percent of what he has owed," Romney spokesman Ryan Williams wrote.

Williams later told CNN that "The audit did not result in a fine or penalty."

In his original statement, Williams added, "As has previously been reported, in 2011, the Romneys will pay more than $3.2 million in taxes on $20.9 million in mostly investment income and will have donated more than $4 million to charity. In 2010, The Romneys paid more than $3 million in taxes on $21.6 million in mostly investment income and donated nearly $3 million to charity."

Romney has disclosed his income tax returns from 2010, and released an estimate of his 2011 tax information in April. He has vowed to release 2011's full return one it's completed by his accountant.

Democrats and some Republicans have called on Romney to release more information, saying voters are entitled to know more about a presidential candidate's financial history.

Obama campaign spokeswoman Lis Smith repeated the call in a statement on Monday.

"It's not surprising that Mitt Romney – the most secretive nominee in recent history – is once again siding against transparency and breaking his promise to 'go back and look' at additional tax returns to see if he ever paid less than his 2010 rate of 13.9%," she said. "His refusal to do so raises serious questions about just how much he has paid in taxes and whether he has resorted to tax loopholes and dodges to avoid paying his fair share.

"He can put these questions to rest by following decades of precedent by releasing additional years worth of returns and providing the full account of the income tax rates he paid, as he promised he would just days ago," Smith continued.

Romney and his campaign argue they have met all the legal requirements for tax disclosure, and claim Democrats are waging a war on wealth by demanding more information.

On Monday, Romney said he was confident that the taxes he's paid in the past were all perfectly legal.

"My view is I've paid all the taxes required by law," Romney said on ABC News. "From time to time I've been audited, as happens I think to other citizens as well, and the accounting firm which prepares my taxes has done a very thorough and complete job [to] pay taxes as legally due."

According to an Internal Revenue Service report, nearly 1.6 million audits were conducted in 2010 out of roughly 143,000,000 individual returns filed. That's an audit rate of 1.1%.

Wealthy individuals, however, were subject to a much higher rate – 12.5% for people making more than $1 million in 2011. That was a jump from 8% in 2010 and 6% in 2009.

That spike is partly due to the creation of the IRS's Global High Wealth Industry Group, a division that examines the tax filings of those with incomes or assets of $10 million or more.

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Filed under: 2012 • Mitt Romney • Taxes
soundoff (116 Responses)
  1. ART

    He obviously has something to hide,this man cannot be trusted

    July 30, 2012 01:28 pm at 1:28 pm |
  2. They ought to change from the elephant to the hippo...

    Mitt's too much of a wimp to take the fallout from his tax returns. What the matter Mitt? Did you take advantage of the amnesty provision given to rich tax evaders?

    July 30, 2012 01:29 pm at 1:29 pm |
  3. Expat American

    It sounds more and more each day like Romney is hiding something in those returns…..and it’s going to come out….and then his campaign will be ruined…and it will be a good day when that happens.

    July 30, 2012 01:31 pm at 1:31 pm |
  4. don

    People people please!!!!
    In Mittworld the CEO doesn't answer to the common man. Don't you know how humiliating it is to ask for your vote? We will be serving him not him serving us.

    July 30, 2012 01:33 pm at 1:33 pm |
  5. dachozen1

    The media is giving this man a free pass. Doesnt show his taxes, his plans for economic recovery, no detailed foreign policy views or any information that is a significant contrast from the current president...

    July 30, 2012 01:34 pm at 1:34 pm |
  6. Pander Express

    "Mitt Romney has paid his taxes in full compliance with U.S. Law, and he has paid 100 percent of what he has owed"

    Prove it....

    July 30, 2012 01:34 pm at 1:34 pm |
  7. Bill

    This is most definetely not a smart move – his advisors really are not doing a good job. The secrecy routine does not play well with independents, or anyone else for that matter. The Obama team thanks you Mittens!

    July 30, 2012 01:36 pm at 1:36 pm |
  8. Sniffit

    It's not about what's legal. It's about what's right. I, for one, encourage him to continue making this mistake.

    Records of his management of the Utah Olympics: destroyed.

    Records of his term as governor of MA: destroyed.

    Tax returns from several years pursuant to the tradition started by his very own father: hidden.

    There is only one conclusion to draw from all this. Mittens does not want you to know who he is.

    July 30, 2012 01:36 pm at 1:36 pm |
  9. Marie MD

    This mitt the twit is a first classs liar. I don't want to hear you talk about your taxes in the last ten years. I want to see them.
    If you weren't hiding wealth, tax deductions (Rafalca the dancing horse gave you $77,000) then Teo years is fine.
    I also wand to know about rhose "charities". We know your church gets a big bundle but didn't you give money to planned parenthood? Who knows tpwhat else yiu are hiding that would tank your pathetic campaign faster than I can say Seamus the poor dog you abused Nd laugh with that also useless wife of yours!

    July 30, 2012 01:37 pm at 1:37 pm |
  10. Wire Palladin, S. F.

    No tax returns, no government records in MA, no payout records of the taxpayer bailout of the Salt Lake olympics. Typical right wingnut transparency. Rove should have picked his nose instead of picking Mittens and waste $2 billion on a flawed candidate.

    July 30, 2012 01:39 pm at 1:39 pm |
  11. grrace

    I think it's too late to see Romney's tax returns. They will have already been scrubbed. It's safer to assume he's just an average white collar crook, living off of grandpa's stolen pension.

    July 30, 2012 01:41 pm at 1:41 pm |
  12. Riverwheeler

    Wild Weird Willard is hiding something! The question is WHAT??????????? What we need is some good investigating reporters to get to the bottom of this!!!!!!!!!!

    Willard is far to secretive to be running for President!!!!!!!!!!!!!

    RELEASE YOUR TAX RETURNS WILLARD!

    July 30, 2012 01:41 pm at 1:41 pm |
  13. Wire Palladin, S. F.

    We all need to see how many years Mittens made millions and paid no taxes. He is hiding his illegal activities from 'you people.'

    July 30, 2012 01:41 pm at 1:41 pm |
  14. Ted

    He has something to hide, and it must be something big if he's willing to take the heat from Republican and Democrats on this.

    July 30, 2012 01:42 pm at 1:42 pm |
  15. Lemone

    This is exactly why Robme will not get my vote!

    July 30, 2012 01:42 pm at 1:42 pm |
  16. IF YOU SIGNED GROVER'S PLEDGE, YOU ARE A TRAITOR TO THE U.S.

    What do you have to hide Willard? This question will loom around your campaign up until election day unless you come clean. We want to see your papers Willard. Dear old dad must be rolling over in his grave.

    July 30, 2012 01:42 pm at 1:42 pm |
  17. Investment Advisor

    Get over it and zero in on economic growth. That is the important issue of this countrys survival. This is just a democratic party diversion from the obvious.

    July 30, 2012 01:43 pm at 1:43 pm |
  18. Jules

    There are years he paid nothing in taxes by using very tax loophole available to the wealthy of this country. That's why he was audited. Any man who will take a $77,000 tax deduction for a horse in 2010 when he is running for president will take a tax deduction for anything he can get away with. He never says if he had to pay additional taxes when he was audited – he just says he was audited. Everyone knows that there were years when he paid no taxes so what else can he be hiding. My guess is that he also set up his blind trusts after he set up his offshore bank accounts. Really – this man has some real issues. I can't believe people will vote for a man they really know nothing about.

    July 30, 2012 01:43 pm at 1:43 pm |
  19. winky

    Why do Americans go for this crap! Anyone else if running for a job as this or better yet trying to get a liquor license would be looked at closer than this man! Audited wow that tells u right there that he's a cheat an then admits it!

    July 30, 2012 01:43 pm at 1:43 pm |
  20. Laverne

    Since this is the only thing this man has stood his ground on and so far have not caved, confirms to me he is horrified of the public finding out certain things on his tax returns! Americans should not allow him to get away with this, especially since he is asking for the highest job of the lands. SHOW US THE TAX RETURNS MAN!!!!

    July 30, 2012 01:43 pm at 1:43 pm |
  21. kakaraka

    Then I cannot vote for you Mitt because I feel like you're hidding something on your tax returns. You are too secretive to be President of the United States.

    July 30, 2012 01:44 pm at 1:44 pm |
  22. IF YOU SIGNED GROVER'S PLEDGE, YOU ARE A TRAITOR TO THE U.S.

    Did Willard think just because the Olympics are going on and he's going around the world pandering to leaders that this issue will get swept under the rug? Romney Campaign, this is a job interview! WE, being the employers, can ask for whatever the heck we want. If you don't want to provide US with the information we require to make an informed decision, that's on you! You will pay for it at the polls.

    July 30, 2012 01:46 pm at 1:46 pm |
  23. Milton K. Wiah

    If the American people such a man to even get on the ballots as presidential candidate then I know there
    is no democracy but Partycracy. How can Republicans even consider this option. He got something to hide.

    July 30, 2012 01:47 pm at 1:47 pm |
  24. SOUTHERN HOTTIE

    He won't release more than 2 years because there are probably years where he paid zero dollars in taxes.

    July 30, 2012 01:48 pm at 1:48 pm |
  25. 99 Days until Obama is THROWN OUT

    GDP growth now down to an annual rate of 1.5%.... The third year of the Obama Cyclical Jobless Semi-Recession. This is what happens when all you have are dumb tricks to deal with real problems. Obama has made the entire country unstable, including the tax code and our healthcare system, two things that dramatically affect businesses. Obama is totally clueless about the implications of the disaster he has created over the last 4 years.

    July 30, 2012 01:48 pm at 1:48 pm |
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