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. AnnsTheMan!

    hey, were are the 'taxers' here? There were hundreds upon hundreds of people clamoring for Obama to show his birth certificate... where are those same 'truth' getters, arguging to see mitt's taxes? *silence*

    July 30, 2012 02:12 pm at 2:12 pm |
  2. The Elephant In The Room

    It is amazing that Mitt Romney has been unable to show any backbone on any topic throughout this campaign but on this topic. TRANSPARENCY of your tax returns, he has been determined to not reveal the details which the American People want to see BEFORE considering him for the top job in the land.

    There MUST be some really embarassing s#!+ in those returns dating back to 4 years prioe to him running for office.

    I don`t trust you Mitt, Therefore, I can`t vote for you.

    July 30, 2012 02:13 pm at 2:13 pm |
  3. sonny chapman

    He's been audited,"like other people that I know". No Mitt, the Working Stiffs don't get audited. They have their Income Taxes WITHHELD. Then the "Job Creators" give them a refund which they use to pay off their credit cards from trying to survive in an economic system that sees their wages continually shrink.

    July 30, 2012 02:13 pm at 2:13 pm |
  4. Luke,AZ

    How can anyone vote a guy they know nothing about and is part of a religion they know nothing about.

    July 30, 2012 02:14 pm at 2:14 pm |
  5. cf

    What are you hiding, Romney?

    July 30, 2012 02:14 pm at 2:14 pm |
  6. Expat American

    Maybe Sleazy Lizard Willard is trying to hide the wealth that he accumulated from stepping on the throats of the poor and middle class – folks he is now pandering too for votes?
    Hmmmmmmm.

    July 30, 2012 02:14 pm at 2:14 pm |
  7. IF YOU SIGNED GROVER'S PLEDGE, YOU ARE A TRAITOR TO THE U.S.

    The only people we like to have secrets in the U.S. is the C.I.A., and the last time I checked Willard, you outted MI-6. Sort of how Dick Cheney outted Valerie Plame.

    July 30, 2012 02:14 pm at 2:14 pm |
  8. mikesloan

    Why is it ok to keep asking our president for a birth certificate. His answer "I am an American Citizen" does not seem to mean anything to his detractors. Maybe because, just saying it does not make it so. If that is the case...Just saying "I've paid all my taxed" should not be enough.

    July 30, 2012 02:16 pm at 2:16 pm |
  9. g

    looks like romneys tax doctors did not save the patient

    July 30, 2012 02:16 pm at 2:16 pm |
  10. Luke,AZ

    How can anyone vote for a guy they know nothing about and is part of a religion they know nothing about.

    July 30, 2012 02:17 pm at 2:17 pm |
  11. Myviewis

    Most people don't care Governor Romney is not producing additional tax returns. People are interested if Governor Romney can improve this terrible economy and can he brings us jobs, jobs, jobs. If he is richer than most who cares, most Senators and Congressman are richer than any of us and many presidents have been richer than most of us.

    July 30, 2012 02:17 pm at 2:17 pm |
  12. AnnsTheMan!

    @Four And The Door – no, maybe, just maybe, now that they've proven that Obama was born here, that they can prove mitt 'worked' here....

    July 30, 2012 02:17 pm at 2:17 pm |
  13. Dominican mama 4 Obama

    curious

    I purchased a home this year and I had to show 3 previous years of tax returns. Rmoney is trying to purchase the presidency.
    -------------------------------------------------
    Excellent point!

    July 30, 2012 02:17 pm at 2:17 pm |
  14. rs

    Despite GOP/Fox talking points, no one is "jealous" of Mr. Romney, or his so-called "success". Rather, as someone who has had to show years of tax returns for loans, jobs, and other day-to-day life events, I think we all have a compelling reason to see Mr. Romney's income tax forms. As someone who has demonstrated a secretive past, (foreign, off-shore tax haven accounts and corporations), someone with dubious recall of the past (being CEO, drawing a six-figure salary, and being sole stockholder of a company, but having "nothing to do with it"), and someone who now in all likelihood has paid far less rate-wise on his $50k per day income than the majority of working, middle-class Americans we should know just how rich this man is, and where his financial interests lie. Clearly, cutting taxes on the top 1% will vastly benefit him. How much?

    July 30, 2012 02:18 pm at 2:18 pm |
  15. Myviewis

    sonny chapman

    He's been audited,"like other people that I know". No Mitt, the Working Stiffs don't get audited. They have their Income Taxes WITHHELD. Then the "Job Creators" give them a refund which they use to pay off their credit cards from trying to survive in an economic system that sees their wages continually shrink.
    -------------------------------------

    Lots of middle class people get audited. Get real.

    July 30, 2012 02:18 pm at 2:18 pm |
  16. wakiya lewis

    well said pander express

    July 30, 2012 02:19 pm at 2:19 pm |
  17. IntelligentDesign

    Willard is hiding that he was on the list of tax cheats from 2009. He knows that is the end of his campaign. He will never release this. It would be easier to get him to dress as a B Boy than for him to release that information. ROMNEY is A TAX Cheat and he KNOWS it.

    July 30, 2012 02:19 pm at 2:19 pm |
  18. rdd

    Woman In California

    No tax returns
    No White House.

    ------------------------
    Right, let's get all uptight about tax returns instead of unemployment, deficits, etc.

    July 30, 2012 02:20 pm at 2:20 pm |
  19. george of the jungle

    if mitts remaks don't set off the red flags nothing will. Repos are so determined to get rid of Obama that they would rather vote in a non christian (mormons do not believe in the trinity ) a job outsourcer who will not show us his tax returns and keeps his money in off shore accounts. This guy is being financed by a casion owner who is getting his money from China, Whats wrong with this whole picture. Forward 2012.

    July 30, 2012 02:20 pm at 2:20 pm |
  20. Sniffit

    You know, I'd actually have to argue that this is fairly transparent on Mittens' part. His fear of how the public will react to all of his tax dodging, foreign accounts, gaming the system and the tax code's privileged treatment of him and people as rich as he is and the advantages it gives them over the rest of us...fear fear fear...is compeltely see through. Need a change of pants, Mittsy?

    July 30, 2012 02:21 pm at 2:21 pm |
  21. rs

    Aerian- College and educational records are protected, private information according to FERPA (Google it). No sitting President, or Presidential candidate has EVER been asked for college transcripts, or similar educational material, whereas all Presidents and candidates since Nixon (who got caught cheating) have released their annual income tax forms for anywhere from 5-12 years.

    July 30, 2012 02:22 pm at 2:22 pm |
  22. Anonymous

    @Four and The Door

    Sorry, Obama/ Biden 2012. You will have to run on the real issues, your record and your plan for the future.
    ----------------------------------------------------
    Romney is running on his business skills and the integrity of those practices would be revealed in the tax returns he is hiding. Trashing the lives of many hard working people by raping productive business in vulture capitalistic ventures is not the same as running America. He has revealed nothing regarding his plans for the future except flip-flops and ridiculous proposals. He "plans" to repeal AHC and replace it with exactly the same provisions – but never mentions how he'll pay for it. He'll lower our taxes but never says how he'll pay for it. He plans the get immigrants to "self-deport" – an idea that came from a comedy act and was never meant as a serious concept. He wants Paul Ryan's budget – so he plans to trash Medicare and Social Security. We're good with his record and his plans... what are they?

    July 30, 2012 02:23 pm at 2:23 pm |
  23. Sniffit

    "Most people don't care Governor Romney is not producing additional tax returns."

    Yeah, those polls that prove you wrong are to be completely ignored. After all, it's not the numbers and data that determine reality, it's ideology and carefully listening only to what you want to hear.

    July 30, 2012 02:23 pm at 2:23 pm |
  24. dakster

    What is Romney hiding?

    July 30, 2012 02:25 pm at 2:25 pm |
  25. Bill R

    i love the fact that he used the phase "perfectly legal". Everyone should read the book "perfectly legal".
    warning
    If you are Super Rich this book may cause you to roll on the floor and laugh for hours!
    warning
    If you are not Super Rich this book may cause you to roll on the floor and vomit for hours!

    July 30, 2012 02:25 pm at 2:25 pm |
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