Romney Releases 2011 Tax Returns, Paid $1.9 Million
Mitt Romney has had a rough week. The 47% comment, brown face accusations, and the loss of Tim Pawlenty have hurt the GOP candidate’s campaign. In an effort to change the political topic, Mitt Romney is going to release his 2011 tax returns.
According to the Associated Press, Romney will release his 2011 tax returns later this afternoon.
According to his aides, Mitt Romney earned about $13.7 million during 2011 and paid close to $2 million in taxes. Romney had an effective tax rate of 14.1 percent during 2011. USA Today reports that Mitt and Anne Romney donated about $4 million to charity in 2011, or about 30% of their income.
The announcement that Romney would release his 2011 tax returns today was made on the GOP candidate’s website by Trustee Brad Malt.
“This morning, Gov. and Mrs. Romney filed their 2011 tax return with the IRS. At 3:00pm today, the Romney for President campaign will be posting the 2011 return online.”
Malt said that Romney would also release a “notarized letter from … tax preparer, PricewaterhouseCoopers, LLP (PWC)” which will summarize Romney’s tax returns from 1990 to 2009.
According to Malt, the letter will show that Romney paid both state and federal income taxes during that 20 year period, his average annual effective federal tax rate was 20.20%, the lowest annual effective federal personal tax rate was 13.66%. The letter will also show that Romney gave an average of 13.45% of his adjusted gross income to charity.
Yahoo reports that Romney has already released his 2010 tax returns. During that year, Romney paid nearly $3 million in taxes for a 13.9 percent tax rate.
Romney’s full tax returns from 2011 will be available later today at Mittromney.com.