Link to original source. (http://www.csmonitor.com/USA/DC-Decoder/Decoder-Wire/2012/0730/Mitt-Romney-says-he-s-been-audited-by-the-IRS.-Does-that-matter)

"The disclosure raises more questions about Mitt Romney's complicated financial holdings – and may renew pressure on him to release more of his tax returns.

In an interview with ABC News over the weekend, in the course of defending his decision not to release any more tax returns, Mitt Romney may have unintentionally thrown a little more fuel on the fire – by revealing that he has been audited. And possibly more than once.

Here’s what Mr. Romney said:

“From time to time, I’ve been audited as happens, I think, to other citizens as well. And the accounting firm which prepares my taxes has done a very thorough and complete job,” Romney said, adding: “I don’t pay more [taxes] than are legally due, and frankly, if I had paid more than are legally due, I don't think I'd be qualified to become president. I'd think people would want me to follow the law and pay only what the tax code requires."

.....

"Reporters have been wondering about Romney's possible audit history for some time. Just last week, Mother Jones ran a piece (http://www.motherjones.com/mojo/2012/07/should-mitt-romney-be-audited)that questioned whether Romney could be targeted by a task force that the IRS created in 2009 to audit high-wealth individuals who “make use of sophisticated financial, business, and investment arrangements with complicated legal structures and tax consequences” – a description that, the article noted, sounds a lot like Romney.

So far, the task force has audited 36 individuals and found that 24 of them had not, in fact, paid all the taxes they actually owed: “Out of the 36 high-wealth individuals audited in fiscal 2011 and the first five months of fiscal 2012, the IRS discovered an extra $47 million in taxes that should have been paid by 24 people in that group.”

While it’s clear that over the weekend, Romney brought up his audits as a way of implying that his tax forms have been thoroughly scrutinized by the government – and passed muster – he did not explicitly say whether he ever wound up having to pay any penalties or additional taxes as a result of those audits."

*yawn* Anyone who is in business knows how many pages are included in their IRS filings and how subjective so many of the rules are when it comes time to apply them. Hence..audits of the returns filed by successful business folks are quite routine and quite common. Its the sign of a good accounting firm that they keep the number of audits one is subjected to to a minimum. But avoid them altogether?...about impossible.

My federal return usually runs at least 25 pages. Yours probably does too, right boy?

Obammy's buddy Warren Buffet has ongoing disputes with the IRS ..and the amounts in dispute - the taxes owed - exceed 10 million bucks if I recall correctly.

*yawn* Anyone who is in business knows how many pages are included in their IRS filings and how subjective so many of the rules are when it comes time to apply them. Hence..audits of the returns filed by successful business folks are quite routine and quite common. Its the sign of a good accounting firm that they keep the number of audits one is subjected to to a minimum. But avoid them altogether?...about impossible.

My federal return usually runs at least 25 pages. Yours probably does too, right boy?

Obammy's buddy Warren Buffet has ongoing disputes with the IRS ..and the amounts in dispute - the taxes owed - exceed 10 million bucks if I recall correctly.

I think the boy only uses the "short" form for many reasons.

Just finished agonizing 6 month audit. I was 100% clean when done. It just means the IRS is paying attention not that I did anything wrong.
I would expect Romney to be checked out as well.

It still is a PIA

Romney gives more than 10% of his income to charity. That's an audit flag right there. Add complex business dealings, and you pretty much guarantee an audit.

An audit doesn't mean "you hid something!" It means that the IRS decided to take a closer look. That's all.

If there were anything to this story, Romney would have been charged. That hasn't happened. So what we have is multiple investigations which have resulted in a grand total of zero charges. Sounds more like something to brag about.

I think the boy only uses the "short" form for many reasons.

Just finished agonizing 6 month audit. I was 100% clean when done. It just means the IRS is paying attention not that I did anything wrong.
I would expect Romney to be checked out as well.

It still is a PIA

Pray tell, what the acronym "PIA" stand for?

I would think riding the short bus for about 18 of the boy's 12 years of "re-education" would be splainin' enough.......

I've been audited once as a plain old taxpayer - what a waste of time for the IRS to actually have to cut me another refund check for about $38 and change.....

This smells to me..

Almost like class warfare perpetrated by the government..

It seems they are basing their audits on the amount of money one makes.. NOT any evidence of doing anything wrong, or possible tax evasion.

Talk about profiling..

It seems they are basing their audits on the amount of money one makes.. ..

Of course they are. At least indirectly..because those who make more of it are generally the ones that file the more complex returns...the returns with more chances for erroneous or arguable calculations.

Pray tell, what the acronym "PIA" stand for?

I would think riding the short bus for about 18 of the boy's 12 years of "re-education" would be splainin' enough.......

I've been audited once as a plain old taxpayer - what a waste of time for the IRS to actually have to cut me another refund check for about $38 and change.....

I suspect a short form of PITA, or Pain In the A33

I suspect a short form of PITA, or Pain In the A33

Thank you, I will edit for b23

Link to original source. (http://www.csmonitor.com/USA/DC-Decoder/Decoder-Wire/2012/0730/Mitt-Romney-says-he-s-been-audited-by-the-IRS.-Does-that-matter)

"The disclosure raises more questions about Mitt Romney's complicated financial holdings – and may renew pressure on him to release more of his tax returns.

In an interview with ABC News over the weekend, in the course of defending his decision not to release any more tax returns, Mitt Romney may have unintentionally thrown a little more fuel on the fire – by revealing that he has been audited. And possibly more than once.

Here’s what Mr. Romney said:

“From time to time, I’ve been audited as happens, I think, to other citizens as well. And the accounting firm which prepares my taxes has done a very thorough and complete job,” Romney said, adding: “I don’t pay more [taxes] than are legally due, and frankly, if I had paid more than are legally due, I don't think I'd be qualified to become president. I'd think people would want me to follow the law and pay only what the tax code requires."

.....

"Reporters have been wondering about Romney's possible audit history for some time. Just last week, Mother Jones ran a piece (http://www.motherjones.com/mojo/2012/07/should-mitt-romney-be-audited)that questioned whether Romney could be targeted by a task force that the IRS created in 2009 to audit high-wealth individuals who “make use of sophisticated financial, business, and investment arrangements with complicated legal structures and tax consequences” – a description that, the article noted, sounds a lot like Romney.

So far, the task force has audited 36 individuals and found that 24 of them had not, in fact, paid all the taxes they actually owed: “Out of the 36 high-wealth individuals audited in fiscal 2011 and the first five months of fiscal 2012, the IRS discovered an extra $47 million in taxes that should have been paid by 24 people in that group.”

While it’s clear that over the weekend, Romney brought up his audits as a way of implying that his tax forms have been thoroughly scrutinized by the government – and passed muster – he did not explicitly say whether he ever wound up having to pay any penalties or additional taxes as a result of those audits."


For those who can read and understand.:patriot:

For those who can read and understand.:patriot:

So, what specifically is it that you think we dont understand? That anyone with that amount of wealth has a complicated financial life? And that anyone with a financial life that complicated can expect to be audited once in a while?

Christ, you people were okay with Slick Willie using his in the Oval office on an intern because, while sleazy and cheap, it wasn't illegal. You are okay with Charlie Rangel making a pretzel out of the tax code because he couldn't understand it, even though those parts are pretty freakin simple.

But because you all need something to bark about, you make sinister statements, and suppose that he could be a good target for a task force that never actually looked at him, and use all sort of adjectives to make what is perfectly normal look illegal.


Man the hell up, and get him indicted already, or let it go. Whats funny is that I don't even like the guy, and am not sure he was the best choice. All the establishment Republicans were all about Mr. Inevitable, which I have never believed personally. The establishment wants safe, I think the people want inspiration. Instead we get Mr Rodgers. But really, if you cant find dirt, stop trying to make normal stuff sound dirty.

For those who can read and understand.:patriot:

And?...

So, what specifically is it that you think we dont understand? That anyone with that amount of wealth has a complicated financial life? And that anyone with a financial life that complicated can expect to be audited once in a while?

.

That. Exactly.

Thank you, I will edit for b23

Not necessary. Just had no idea what PIA could have possibly stood for.

How about some kind of audit, or just plain revealing, of the big o's college grades, papers, writings, works, etc? Especially one such as he that has such extreme leftist leanings.

I think a truthful revealing of what we now know to be pretty darn certain, that he was/is the progressive/marxist/non-Christian that he has displayed so blatently over the past 3.6 years.

Just put it out on public display, like the left wants to do with every penny of republican/conservative candidates.

a more valid point, how many times has Mitt be fined for errors in his taxes ........ that would be the story

How about some kind of audit, or just plain revealing, of the big o's college grades, papers, writings, works, etc? Especially one such as he that has such extreme leftist leanings.



Personally, that's at the bottom of the list that I'd like to see. There are documents being hidden today that mean a whole hell of a lot more. First, I want to see him comply with the F&F subpoena. Then we can get him to reveal who he ordered to leak classified information.

Link to original source. (http://www.csmonitor.com/USA/DC-Decoder/Decoder-Wire/2012/0730/Mitt-Romney-says-he-s-been-audited-by-the-IRS.-Does-that-matter)

"The disclosure raises more questions about Mitt Romney's complicated financial holdings – and may renew pressure on him to release more of his tax returns. ."


I just figured it out. The reason why Romney is dragging this out is because it helps him. The left seems to have no clue that most Americans don't have a problem with taking every advantage they can find in the tax code and, I would guess, might rub up against the limits every now and again.

So, this, if only this, does make Mitt one of us and keeps the spotlight on Obama for having nothing substantive to talk about, especially his record as potus.

If I was a Mitt fan, I'd day 'keep up the good work!'.

At least it finally makes sense.