Business

Romney Adviser: Mitt Will Release 2011 Tax Returns in October

In the latest chapter in the never-ending debate (obsession?) over Mitt Romney’s tax returns, senior campaign adviser Ed Gillespie on Sunday said the presumed Republican presidential candidate would release his 2011 tax return by Oct. 15.

Romney has released his 2010 tax return and estimates for 2011 but “does not plan to reveal more years of returns,” according to Reuters. “In April, he requested an extension from the Internal Revenue Service to file his 2011 tax forms, while estimating his tax liability at $3.2 million for last year.”

Gillespie said the former Massachusetts governor would release the 2011 returns a few weeks before the election but failed to say exactly when.

“Look, October 15 is the deadline for the IRS on an extension. We have said as soon as they‘re ready we’re going to release them. And I believe they’ll be ready before that,“ Gillespie told Chris Wallace on the ”Fox News Sunday” program.

“They’re being finalized. There‘s a lot of forms that have to come in from other entities that the governor doesn’t have control over,” he said.

Gillespie added that Americans have “ample information” about Romney.

Watch via Fox News [discussion of Romney’s taxes comes at the 06:07 mark]:

However, the Obama campaign disagrees with Romney’s campaign adviser and on Friday offered the Republican campaign a five-year tax disclosure “deal.“ The Romney campaign said ”no.”

“Look, Mitt Romney is a highly educated man. And he has clearly made a decision that what is in those tax returns is far more damaging to him than to do what every presidential candidate has done, which is show the American people your personal finances,“ Obama campaign senior adviser Robert Gibbs told ”Fox News Sunday.”

But Gillespie maintains that Team Obama is only talking about Romney’s taxes because they’re trying to distract from the president’s less-than-flattering record.

“It wasn‘t an issue in 2008 because President Obama wasn’t trying to distract from a four-year-long record of failed policies,” he said.

And Team Obama isn’t alone in its interest in Romney’s taxes: Senate Majority Leader Harry Reid on more than one occasion has accused the Republican presidential candidate of being a tax cheat.

Oh, yeah, and then there‘s Maryland Governor Martin O’Malley, head of the Democratic Governors Association:

The only thing we know for sure is one year of returns. … We know that he (Romney) has been engaged in tax avoidance schemes, with offshore accounts … in Cayman Islands and the Bahamas. … But it is tax avoidance.

Follow Becket Adams (@BecketAdams) on Twitter

Front page photo courtesy the AP.

Comments (49)

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  • watashbuddyfriend
    Posted on August 20, 2012 at 10:04pm

    Romney, if you think you must, release your 2011 tax return, maybe Oct. 15 is a little early; make it Oct 31, so that the liberal media will not have much time to avoid commenting about something important!

    Report Post »  
    • oldguy199
      Posted on August 20, 2012 at 10:34pm

      Do not care about Romney*s taxes===== I care about mine or lack of (no jobs, unemployed) Why am I not paying fed taxes??? Me and TENS OF MILLIONS of people are NOT paying TAXES- thanks to OBUMMERS rules and regulations.Why is that not the discussion I want ROMNEY to ask OBUMMER at the debates why I am NOT employed

      Report Post »  
  • Libfreezone
    Posted on August 20, 2012 at 8:17pm

    Mitt, you need to get something in return. Make Obama show his transcripts, and how he qualified for Columbia and Harvard. Apply some pressure of your own Mitt!

    Report Post » Libfreezone  
  • JEANNIEMAC
    Posted on August 20, 2012 at 8:11pm

    Mitt Romney can agree to release his tax returns in a swap for Obama’s sealed records:
    Forged Birth certificate issued by the White House!
    Multiple Social Security numbers!
    Sealed College records!
    Surrendered license to practice law!
    Missing birth records in Hawaii!
    Selective Service records sealed!
    Foreign Passports!
    Association with known Communists and subversives!
    Sworn testimonies by credible witnesses proving Obama was not born in America.
    America’s top Sherriff threatened if he continues investigating the Obama Frauds!
    …and the list goes on!

    Report Post »  
  • bgraul
    Posted on August 20, 2012 at 7:45pm

    I would like to see someone figure out how much Obama paid in taxes in 2010 compared to how much his and his families vacations cost the American taxpayer in the same year. That is where the American people should focus a critical eye–not on an honorable man like Mitt Romney, who if elected to office will not even accept a paycheck to do it.

    Report Post »  
    • watashbuddyfriend
      Posted on August 20, 2012 at 10:09pm

      @ bgraul, Do you have any idea how much has been recovered from the Obama Re-election campaign for the use of Air Force One, security, food, and more? If you know, or how to find out, please post.

      Report Post »  
  • bgraul
    Posted on August 20, 2012 at 7:44pm

    Seen the latest Obama commercial critical of Mitt Romney’s 2010 tax rate? They say he paid only 14% (of the $20M he made in 2010) in taxes. Anyone here ever itemized before? His tax rate was lower because he paid over 15% of that to charity, in addition to getting deductions for interest paid, etc. just like the rest of us do. His rate, after all that may be less, percentage wise that we pay, but
    how many of us give 15% to charity? Figure it out, and maybe your rate would be 14% if you did that too? Now figure out how much 14% of $20M is–that’s $2.8M, or $2,800,000. I couldn’t earn that much in three life times and he paid that in taxes in one year, AND gave $3M to charity to boot. Thinking people should see nothing wrong with Mitt Romney here.

    Report Post »  
  • ReaganBaby
    Posted on August 20, 2012 at 6:09pm

    don’t cave Mitt- Not until Obama releases his transcripts or the DOJ hands over evidence pertaining to Fast and Furious. Tax returns have no relevance in this election.

    Report Post » ReaganBaby  
  • hauschild
    Posted on August 20, 2012 at 4:27pm

    Romney needs more competent advisors; these buffoons are responsible for snatching defeat from the jaws of victory. Even more impotent than John Wayne McCain’s campaign.

    To allow the media to steer your campaign – well, never seen anything like it. I’ve never heard anybody make the simple observation about why the IRS has never gone after Romney if there was ever a problem with his tax returns???

    Report Post »  
  • JustMel71
    Posted on August 20, 2012 at 3:03pm

    Add this to the “Romney supports auditing the feds” wow. Maybe Dr. Paul isn’t as irrelevant as some talking heads want us to believe. Now do you believe Romney will or won’t? You decide.

    Romney supports audit of the Federal Reserve

    http://www.washingtontimes.com/blog/inside-politics/2012/aug/20/romney-supports-audit-fed/#disqus_thread

    Report Post » JustMel71  
    • justangry
      Posted on August 20, 2012 at 5:48pm

      I don’t buy it. Besides Harry Reid supported auditing the fed at one time too.

      Report Post » justangry  
  • Ron Staiger
    Posted on August 20, 2012 at 2:53pm

    Will Obama then release his college records. You know, the ones that show him listing his place of birth as Kenya, his religion as muslim, and his political affiliation as Communist!

    Report Post »  
    • Clive
      Posted on August 20, 2012 at 3:10pm

      well… my school transcripts say my name, my address, and they show the classes i took, the grades i got, and what degree i earned. and thats it. it definitely doesn’t say “roman catholic” and “registered republican” on it.

      still, obama should release his school records, and mitt should release his tax returns… i’m pretty sure mitt paid taxes. Though, he probably paid a very small percentage of tax, like 4 or 5%. And if the rest of the country found out that the “one percenters” were paying that little, everyone would freak out. Thats why he’s not showing us his returns.

      Report Post »  
    • skimmer57
      Posted on August 20, 2012 at 3:23pm

      Is there a long history of candidates releasing their school records?

      Report Post »  
  • Mutiny
    Posted on August 20, 2012 at 2:51pm

    This “non issue” “story with no legs” is still going?

    This could have been destroyed for Romney’s gain a month ago but for some reason Romney wants to keep the spot light off Obama.

    Romney could have released the tax returns( proven he has done nothing wrong and nothing to hide), made the Democrat Senate majority leader look stupid, all while putting pressure on Obama on things he hasnt released. Instead Romney has kept the focus on himself(in a negative way because it looks like he is hiding something) and this has kept him off the Obama is the problem narrative because the media is not letting this one go.

    Not only is Romney a progressive with many of the same political stances as Obama but he is bad at running a campaign. If there was not so much anti-Obama stuff Romney would be down 30 points.

    Report Post » Mutiny  
    • Clive
      Posted on August 20, 2012 at 3:12pm

      oh god, if obama was even just a decent president, he would completely destroy romney. romney is only close because of all the anti-obama sentiment. Even still, in the end, with all mitts money, obama is still going to hand him his a$$ come november, and we will wait another four years, for paul ryan to run (i’m guessing).

      Report Post »  
  • loveliberty83
    Posted on August 20, 2012 at 2:42pm

    to Mitt do not release your tax sttements until Obama opens his records his first bill he signed was to block all access to his records -why we the people should know everything about who we hire, he has spent millions to hide these records WHY

    Report Post »  
  • progressiveslayer
    Posted on August 20, 2012 at 2:37pm

    BS is a probably a foreign exchange student,all he needs to do is release the records and remove any doubt.If he is a foreign exchange student like I and many others suspect then his entire presidency is a fraud and all laws the POS signed are null and void. Make a deal with BS ,Barry releases all his college records and admission forms to his colleges he says he attended and Romney release whatever tax returns the Marxist POS wants.

    Report Post » progressiveslayer  
  • watashbuddyfriend
    Posted on August 20, 2012 at 2:31pm

    Ok, Romney, why? Why release any tax returns to give the liberal media something to help them avoid something important?

    Report Post »  
  • progressiveslayer
    Posted on August 20, 2012 at 2:29pm

    The IRS is the only Dept. that should be concerned with either candidates tax returns because if their was a problem with either’s return you can be damn sure the IRS would be on them.Only billionaires are excluded from jail time and Barry wants Romney‘s returns made public to show he’s a millionaire.

    We know both are millionaires and all this is is political theater.Barry can’t run on his disastrous record so he plays meaningless games like class warfare.

    Report Post » progressiveslayer  
  • woodyee
    Posted on August 20, 2012 at 2:22pm

    Where are Gaybama’s academic records? Where are his academic writings? Where is his real birth certificate? Why does he own a Connecticut SS number?…add another dozen???

    He’s told us pretty much WHAT he his – but Gaybama is yet to be vetted so we’ll know WHO he is.

    Report Post » woodyee  
  • TGS
    Posted on August 20, 2012 at 2:05pm

    He’s got plenty of time and money to get it all doctored up by then, get all of his horses in the stable, so to speak. One example would be his horse, of course. Just to be fair, I will be accusing whatever he releases of having a million photoshop layers.

    Report Post »  
  • Detroit paperboy
    Posted on August 20, 2012 at 2:02pm

    Why is nobody demanding this foreign exchange students college records,,,,,, besides Donald Trump ?
    WHY ????????!……..WHY ??????????????not?????????!???

    Report Post »  
  • 19random35
    Posted on August 20, 2012 at 1:55pm

    Bottom line is, Mitt thinks paying 13% in taxes is still 13% too much, but it’s fine if middle class people pay a lot more than him percentage wise. The rich would love to eliminate capital gains taxes so they can just pay zero taxes. But hey, if tax cuts for the rich always create jobs(they don’t, 8 years under Bush prove it), then by that logic, 0% taxes for the rich would create the most jobs, right?

    Report Post »  
    • Bum thrower
      Posted on August 20, 2012 at 2:05pm

      Here’s the real question; is it FAIR to the 48% who pay zero income tax, that the 52% who do, don’t pay “their fair share”? Hmmmmmm After all, it‘s the government’s money and they didn’t earn it….right? That‘s the ’progressive collectivist’ way….

      Report Post »  
    • Ben__Franklin
      Posted on August 20, 2012 at 2:40pm

      Its just as Obama said last week. “Shared Prosperity” The 52% work their butts off and have their money stolen to pay for the helpless 48% that cannot find their way off the couch.

      Report Post »  
    • SREGN
      Posted on August 20, 2012 at 3:10pm

      I guess Mitt paid 13% more than deadbeats like you.

      Report Post »  
    • progressiveslayer
      Posted on August 20, 2012 at 3:16pm

      Increasing the capital gains tax discourages investors to invest,it’s always the same the more you tax an activity ie investing in stocks or whatever you choose to invest in the less people are willing to invest.
      How did we survive before the capital gains tax was created? The tax was created by government to extract yet more money from investors so government can waste it on unconstitutional social programs. How many government programs have you ever seen just go away? You don‘t see that because it’s never happened,they only get bigger and more wasteful.

      I’m not rich but I can see why millionaires are leaving this country in droves because of how our openly hostile Marxist POS president is towards capitalists,I should say some capitalists,the ones he favors like Buffet who donate to him have no problems with government.

      Report Post » progressiveslayer  
  • Locked
    Posted on August 20, 2012 at 1:46pm

    … thanks for the non-story? Romney always said he was going to release his 2011 tax return. Snore.

    Report Post »  
  • barber2
    Posted on August 20, 2012 at 1:40pm

    Only if Obama releases his sealed records . Why kowtow only to the wishes of Democrats ? Many of us Republicans want to see Obama’s sealed records.

    Report Post »  
    • JRook
      Posted on August 20, 2012 at 1:57pm

      Always know that when Beckett blocks one of my primary posts it is because it was on the money. Tough to debate the real truth when you have an agenda.

      Report Post »  
    • Ben__Franklin
      Posted on August 20, 2012 at 2:45pm

      Yes, JRook, Beck is busy reading all your posts and deleting those that do not fit in the agenda. …/rollseyes…. You really need some psycho help dude.

      Report Post »  
  • CatB
    Posted on August 20, 2012 at 1:39pm

    THIS IS NOT CAVING IN .. this is stayng strong .. those are what he said he would do (two years 2010 and 2011) .. he has released his 2010 .. and the 2011 were not complete yet .. LOTS OF PEOPLE file for an extension especially those with dividend and other income so that they have more time to prepare accurate returns and not have to re-file an ammended return later. You still have to pay whatever you think you will owe when you file for the extension .. but the final tax return is not due until a later date

    Report Post »  
    • JRook
      Posted on August 20, 2012 at 1:55pm

      No it was clearly a delay to avoid detailed information coming out too far before the election. A similar reasoning behind why he won’t release more tax years. Unfortunately he provides about as much information regarding his real positions, policies and plans. Although who can actually say what his real position or policy is on anything.

      Report Post »  
  • cemerius
    Posted on August 20, 2012 at 1:36pm

    Nothing new here he was ALWAYS going to release his 2011 return. So what, he “only paid 14%” what about the almost 50% of the country that pays 0%? Just beacuse you are poor or even rich does NOT exclude you from being an American!! 14% of 20 million is a heck of alot more than I pay!!! I would call once again for a flat federal sales tax and have the percentage written in the US Constitution so the greedy politicians can not raise it at their whim!!!

    Report Post » cemerius  
  • kat747
    Posted on August 20, 2012 at 1:32pm

    WHY release your tax returns ??
    Barry has NOT released any piece of paper that even resembles a Hawaiian Birth Certificate
    nor any real college records,
    nor any reason WHY he went to Occidental as a “Foreign Exchange Student”
    nor any reason WHY he went to Columbia as a “Foreign Student”
    nor why anyone at Harvard ever saw him in class or his Harvard student ID
    nor any reason WHY he lost his license to practice law in the St. of Illinois or why
    Michelle lost her law license because of insurance fraud
    nor any legal papers proving that his name is legally Barack H Obama.
    SO…..who cares about Romney’s tax returns ?????

    Is there anyone at the Democratic Nominating Committee alive and awake ???

    Report Post »  
    • CatB
      Posted on August 20, 2012 at 1:38pm

      THESE ARE WHAT HE SAID HE WOULD RELEASE !!!!!

      c

      Report Post »  
    • JRook
      Posted on August 20, 2012 at 1:42pm

      “who cares about Romney’s tax returns” Us independent voters who actually elect the President after the ideologues on both sides waste their votes on irrelevant social and religious positions. It is obvious that Romney is hiding something and you know it. At best his financial / tax behavior will display questionable character, ethics, integrity and citizenship. So does ignoring or dodging the question really make you feel better about such behavior. And what would be your position if the PRESIDENT behaved similarly.

      Report Post »  
  • USPATRIOT101
    Posted on August 20, 2012 at 1:30pm

    why do Republicans always cave in?!?!?! Brack needs to show his selective service registration first.

    Report Post » USPATRIOT101  
    • CatB
      Posted on August 20, 2012 at 1:36pm

      That’s not caving in .. that is stayng strong .. those are what he said he would do (two years 2010 and 2011) .. he has released his 2010 .. and the 2011 were not complete yet .. LOTS OF PEOPLE file for an extension especially those with dividend and other income so that they have more time to prepare accurate returns and not have to re-file an ammended return later. You still have to pay whatever you think you will owe when you file for the extension .. but the final tax return is not due until a later date.

      Report Post »  
    • kat747
      Posted on August 20, 2012 at 1:37pm

      …..Barry hasn’t gotten past the legal birth certificate and legal name change yet.
      And you really think he has a selective service registration ????? You are kidding, right ?????
      At this point no one knows what name he might have been using and foreign exchange students do NOT have to do selective service registration. I think you “got” him.
      Fraud on top of more Fraud.

      Report Post »  
    • JRook
      Posted on August 20, 2012 at 1:38pm

      Changing the question is a weak answer and reflective of the fact you know in your heart that Romney is hiding something in his taxes and, at best, is guilty of financial and tax dealings that show questionable character, ethics, integrity and citizenship.

      Report Post »  
    • Shasta
      Posted on August 20, 2012 at 1:38pm

      He was always planning on releasing 2011 taxes when he finished them late this year, and he has always said so.

      Report Post » Shasta  
    • USPATRIOT101
      Posted on August 20, 2012 at 2:21pm

      No matter what his taxes reveal, immediatelty afterwards there will be some bogus outrage demonstrated by the msm. This will fill th news and barack will succefully dodge any accountability on the economy. Everyone will be hatin’ on the rich guy. I get it , he’s a rich guy, so what? I tell you, I don’t care what money he has in Cayman or anywhere else, barack has to be defeated of our nation will fall within 2 years.

      Report Post » USPATRIOT101  
  • Obama Snake Oil Co
    Posted on August 20, 2012 at 1:29pm

    Did Obama really give his birth certificate up? When did ***** get replaced with African American? It would seem that term didn’t show up until the very late 70s?

    Report Post » Obama Snake Oil Co  
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