Turn on Rev AL right fugging now - David Kay Johnson says that the releases used the word

[malaise]

owes which suggest that he was audited and had to pay a substantial amount of taxes. Said he wrote the campaign and they said they were not going to answer the following question - why was the word owed used and not paid.

Tell me more DUers.

[porphyrian]

1. . n/t

[malaise]

2. The tax summary says he owes not he paid

[porphyrian]

4. Yeah, this'll be good. n/t

[LiberalAndProud]

3. I doubt that he was audited. Romney told his accountant to revise upwards, so now he needs to pay.

That's my guess.

[malaise]

5. Could be - I'm just quoting Johnson

I know zippo about his taxation issues

[PA Democrat]

10. This comment was in reference to PRIOR years, not this year.

[LiberalAndProud]

17. Maybe the returns were amended.

I'm just speculating, as Romney has seen fit to reveal his averaged 20 year tax rate.

I'm still stuck on What was he thinking? Either reveal or don't. This "summary" crap is crap. I'm still curious as hell to know wtf he's hiding from us. Summaries don't clear up anything, but do manage to muddy the water with all the technical forensic accounting that appears to be the sport of the day.

[kentuck]

6. Oh, what's the difference??

You people are so picky!

[louis-t]

7. He got an extension. Probably paid estimated.

Turns out he owes more than he paid.

[Tennessee Gal]

12. I think that is correct.

However, why would Johnston bring this up as a problem? Am I missing something?

[malaise]

13. But the comment was for the summaries not the 2011 returns

so I'd like to know more

[Spazito]

8. The amnesty...

"The deadline for the IRS amnesty for undisclosed offshore accounts is September 23, 2009. The IRS has agreed that persons who make a voluntary disclosure before that date will avoid penalties and the risk of criminal prosecution.

Disclosure must be made on Form 90.22-1, Report of Foreign Bank Accounts and must include copies of tax returns for the years being reported."

http://www.taxshelterlitigation.com/2009/05/irs-amnesty-deadline-looms.html

This "owed" aspect, to me, further confirms Romney took advantage of the tax amnesty and revealed the amounts in "undisclosed offshore accounts" which resulted in taxes owed hence the "owes" in the release.

[malaise]

14. Now this makes sense because it is for the summaries

not the 2011 tax returns

[Spazito]

16. Yep, and that's why he can't release his returns from before 2010...

He can't release his previous tax returns because of his 2009 return which would disclose his taking part in the illegal tax shelter amnesty and the back taxes he owes on the money he had hidden, imo.

[spanone]

9. anytime the irs sends me an 'owe' notice, i have to write a check...it's not ambiguous

[kestrel91316]

11. Where are the original long form 1040s and additional forms??

[malaise]

15. This isn't going away

There are now more questions than answers.
David Kay Johnson coming in on Ed Shultz