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THE ONE PERCENT

Romney Asks for Tax Extension

After Obama and Biden release their records.

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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

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