A summary of Mitt Romney's 2011 tax return (379 page PDF attached)

[underpants]

Paid Preparer:
Price Waterhouse Coopers
120 High Street
Boston MA 02110


Occupation
Mitt - Executive (no earned income)
Ann - Homemaker

Total income
$13,709,608
Adjusted Gross Income (page 2) $13,696,951

Foreign tax paid
$83,853
Foreign Tax Credit
$102,790

Gifts to Charity
$2,250,772
This intrigued me because NPR reported this afternoon that he paid about $4M to charities (very nice) but he only declared $2.5M. The difference is, obviously, is $1.5M which is close to 10% of his gross income. I went to page 333 (STATEMENT 4) and he did contribute $1,115,484 to LDS but I don't see the other $2.5M.
He, they, also contributed $214,516 to The Tyler Foundation which looks like a heart warming charity -- GOOD FOR THEM
http://www.tylerfoundation.org/thefoundation.html

Total Tax
$1,935,708 - Line 72
Taxes Paid
$3,434,448
Overpaid $1,498,740 - Not taken as a Refund it was applied to anticipated 2012 estimated tax.
He paid about 32% in taxes. His liabilty was 13.8% which is close to what is being reported.

Their 2011 1040 is here
http://images.politico.com/global/2012/09/mitt_and_ann_romney_2011_1040.html

[jenw2]

1. Why does the IRS allow people to bloat their tax returns like that?

By doing so, they're just giving the typical rich person a great way of hiding their crimes.

[reformist2]

2. Wages, salaries & tips..... $ 0. You gotta love it. ;)

[dkf]

8. Well he is 65

[Cerridwen]

9. Just another senior worth about $200 million. n/t

[kestrel91316]

10. Still Rmoney's #1 defender?

[dkf]

11. Mitt's biggest problem is he thinks its all about taxes or his argument goes.

Now if you were to complain about that I'd be right there.

But this kind of thing? I mean the guy is retired. That is why he doesn't pay a payroll tax. It's so obvious.

[Cerridwen]

3. "we are not the Tyler Foundation that the Romney's donated to," (updated)

To clarify, we are not the Tyler Foundation that the Romney's donated to, we never received any donations from Mitt Romney. The Tyler Foundation they are reporting about is a private foundation called the Tyler Charitable Foundation not ours.

While we are are not the foundation the Romney's donate to, we are dedicated to helping improve the quality of life for families affected by epilepsy. Please take a minute to read about the Tyler Foundation and make a donation.

Link: http://www.tylerfoundation.org/

From RawStory, the romney's private charitable foundation:

Wayne Besen of Truth Wins Out appeared on MSNBC’s The Rachel Maddow Show on Thursday night to discuss how former Massachusetts Gov. Mitt Romney indirectly helped fund so-called “pray away the gay” therapy.

The Tyler Charitable Foundation, set up and funded by the Romneys, donated $10,000 in 2006 to the Massachusetts Family Institute, which promotes the ex-gay therapy. The charity also donated $25,000 to the Becket Fund for Religious Liberty, which opposes same sex marriage and has compared LGBT activists to the terrorist group al Qaeda.

Besen noted that one of the ex-gay organizations promoted by the Massachusetts Family Institute claims that gay men can become more masculine “by drinking Gatorade and calling their friends ‘dude.’”

Raw Story (http://s.tt/1d8tH)

edit: emphasis expanded
(emphasis added)

[Angry Dragon]

4. Isn't this a foundation that one of his sons heads??

[Cerridwen]

5. I don't know. I was just googling the one (updated)

noted in the OP when I tripped over their denial about the romneys then I googled the other and found the RawStory link.

I wouldn't be surprised though. It's a good way to pay your family members a salary and get the tax write-offs.

As a "foundation" I imagine it gets plenty of tax breaks, too. they get the tax breaks for the donation plus everything they can filter through the "foundation" in addition to whatever salary and tax breaks the kid gets. Talk about gaming the system. And, it's all perfectly legal if it's done correctly.

Edit: I found more on the family "charity". 9.5million over 10 years; a chunk of which went to the mormon church.

Mr. Romney is estimated to be worth at least $200-million, but he has not released his tax returns, so it’s hard to tell how much of his income went to charities beyond the family fund.

During that time, the foundation, called the Tyler Charitable Foundation, made grants of $7-million, most of it going to the Mormon Church, otherwise known as the Church of Jesus Christ of Latter-day Saints. Grants totaling $4.7-million were made to the church, with the largest grants in 2008 ($1.8-million) and 2003 ($1.9-million). The foundation awarded $525,000 to Brigham Young University, the Mormon university that is Mr. Romney’s alma mater.

The foundation still has more money to give: It had assets of $10-million as of December 2010. Other notable grantees from 1999 to 2010:

more at link: http://philanthropy.com/article/Romney-Gave-His-Family-Fund/130420/

[Auntie Bush]

7. God! How I despise Mitt Romney!

I can't wait for him to fade away into history and our lives. Now that's what I call a nice thought!

[Rosa Luxemburg]

6. Has he had an AUDIT by the IRS yet?

that would be fun!