Paul Ryan gave Romney camp several years of tax returns

Mitt Romney released two years of his own tax returns to the public but that didn't appear to be enough when he vetted running mate Paul Ryan and other vice presidential candidates.

The campaign team for Romney, the Republican presidential candidate, reviewed several years of tax returns from Ryan and others, according to Beth Myers, the head of Romney's vice presidential search process.

nbcpolitics.nbcnews.com...

I am confused?

If Tax Returns are not important...then why did the Romney Camp demand several years of Tax Returns from thier VP picks?

Anyone??

Because what's good for the goose isn't good for the gander, as they say. Romney simply doesn't want people to know he paid little or no taxes over several years due to the way he hid his money in offshore accounts, etc.

He's a hypocrite, and why anyone would vote for him is beyond me.

People, this is beyond ridiculous.

If there is 0.1% of integrity in Romney's camp, they would REFUSE to look at Ryan's taxes with maybe exception of two years like Romney's released data.

Hypocrite Central == GOP.

reply to post by Indigo5


My guess is that if Ryan released MORE years than Romney, it would make Romney's withholding look even more suspicious. Romney probably wanted to pick out the best ones for Ryan to release. Romney KNOWS there's some telling information in Ryan's returns, especially that of 2008 (that's why he won't release his own).

reply to post by Indigo5


Well isn't this just nice.

It's a small wiener thing.

Romney had to be sure that he made more money than Ryan just to satisfy his small wiener complex. Can't have the VP pulling out the "big dogs" and make Romney look like a poodle.

reply to post by Benevolent Heretic


Precisely, the VP nominee can't publicly release more tax returns than his presumptive boss, that's why he only released two to the rest of us. Even then, it still highlights Romney's hypocrisy, first for demanding several years worth from all his VP candidates as part of the vetting process, second, because Romney hasn't even release one complete year of tax returns. Romney is hiding the fact he paid little to no taxes in the past ten years. It's been estimated his 2009 income tax rate was effectively 0%. His 2010 partial release, the only year he chose to release, still only shows an effective tax rate of 13.9%, WELL below what the average American pays.

For all we know, Romney looked over several years worth of tax records and decided only two of those years were good enough to publicly release.

reply to post by Blackmarketeer


Not to argue with the Romney tax issues, but you are misrepresenting ....

The 2010 return is complete, the 2011 is still not filed and is in an "estimate" form.

Mitt and Ann Romney have released their complete 2010 tax return and an estimate of their 2011 return. (A full copy of their final 2011 return will be made public as soon as it is filed in the upcoming weeks). The Romneys have provided extensive information about their personal finances, with several hundred pages of tax returns now made public.

Romney taxes

If Romney is in fact "hiding" anything, it would wise not to "do what he may be doing" don't you think ?

I bet he releases everything after the official nomination. then

reply to post by xuenchen


Oh?

Mitt Romney Taxes For 2010 Not Fully Disclosed

WASHINGTON -- Mitt Romney has not released his full tax records from 2010, including key documentation connected to his Swiss bank account.

Romney's 2010 Tax Returns Incomplete, Wouldn't Have Run If He Knew Taxes Would Need To Be Public

Mitt Romney has not released his full tax records from 2010, including key documentation connected to his Swiss bank account... people who own foreign bank accounts are required to file a separate document with the IRS that provides additional details on such overseas bank holdings, and Romney has not released that form to the public.

Mitt Romney has been determined to resist releasing his tax returns at least since his bid for Massachusetts governor in 2002 and has been confident that he will never be forced to do so, several current and former Bain executives tell The Huffington Post. Had he thought otherwise, say the sources based on their longtime understanding of Romney, he never would have gone forward with his run for president.

Romney's 2010 Tax Info Incomplete

Mitt Romney has not released his full tax records from 2010, and the missing portions include key documentation connected to his Swiss bank account. Romney revealed his 2010 return six months ago, but omitted his Report on Foreign Bank and Financial Accounts (FBAR). "The campaign has never told us why he had a Swiss bank account," said Rebecca Wilkins, senior counsel for federal tax policy at Citizens for Tax Justice, a nonprofit tax reform group. "It just looks bad."

Romney Has Disclosed Zero Complete Tax Returns

Zero. That is the number of full IRS returns W. Mitt Romney has disclosed.

He claims that he disclosed his 2010 returns. Repeatedly.

But it is not true.

It turns out Romney either lied to the American public or filed an incomplete and incompetent IRS return in 2010.

On his financial disclosure, Romney has shown a shocking pattern of inconsistency which not only raises questions of his honesty they also raise questions of his competency.

Not All There, Mitt Romney’s 2010 Tax Returns Incomplete

“Romney released his 2010 tax return in January of this year, a document that first informed voters about the existence of his Swiss bank account and financial activities in Bermuda and the Cayman Islands. But people who own foreign bank accounts are required to file a separate document with the IRS that provides additional details on such [...]

reply to post by Blackmarketeer



You omitted this interesting part of your link:

So much information was turned over to the IRS that it would have been extremely difficult for the agency to pursue cases against every offender. So the IRS established a special tax amnesty program, which allowed those who voluntarily turned themselves in to remain anonymous and pay limited penalties. Thousands of citizens have since come forward.

"It's unclear why he would have valued the Swiss bank account secrecy, and it wouldn't have enabled him legally to avoid U.S. tax," said Daniel Shaviro, a tax professor at New York University School of Law. "This is why there's speculation that he was into the amnesty program."

Now it all starts making sense.

reply to post by buddhasystem


I also left out the part where Romney's earlier returns would have proven he filed as a resident of Utah for the 7-year period prior to his running for Governor of Mass., which meant he was illegible to run for that office (MA's state constitution requires those seeking that office be a resident for 7 years). He was called out on that before and promised to get back to the media with an answer. That was in 2002. Still waiting.

reply to post by Blackmarketeer


Actually that's a good point.

But the Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (the “FBAR”), isn't required to be filed with the tax returns themselves and is not considered part of the tax returns.

In fact it is filed by June 30th of the following year.

So if he was required to file, yes it should be in the IRS files by now.

General Instructions

Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (the
“FBAR”), is used to report a financial interest in or signature authority
over a foreign financial account. The FBAR must be received by the
Department of the Treasury on or before June 30th of the year
immediately following the calendar year being reported. The June 30th
filing date may not be extended.

Who Must File an FBAR. A United States person that has a financial
interest in or signature authority over foreign financial accounts must file
an FBAR if the aggregate value of the foreign financial accounts
exceeds $10,000 at any time during the calendar year. See General
Definitions, to determine who is a United States person.

Form TD F 90-22.1 pdf

The instructions also point out many exceptions that don't require filing a FBAR.

I guess he needs to "explain"