1. THE ONE PERCENT

    Romney Asks for Tax Extension

    Republican presidential candidate former Massachusetts Gov. Mitt Romney, left, and his wife Ann arrive at a campaign stop Sunday, March 18, 2012 in Moline, Ill. (AP Photo/Steven Senne)

    Steven Senne / AP Photo

    Mitt Romney’s constant tax controversies aren’t over yet. The presidential hopeful requested an extention on his 2011 federal tax return. According to filed documents, Romney doesn’t expect to owe more than the $3.4 million already paid, and will be filing before the November election. In January, Romney caved to pressure from GOP primary rivals to release his 2010 returns, showing he paid a tax rate of about 14 percent on $22 million along with evidence of previously undisclosed overseas funds. On Friday, President Obama released his tax returns, revealing a a 20.5 percent federal tax payment on income of $789,674.

    Read it at LA Times