Huffpost Politics

Mitt Romney Taxes: Campaign Releasing 2011 Returns

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WASHINGTON -- Mitt Romney is releasing his 2011 tax returns.

The Associated Press reports:

Romney aides on Friday said the Republican presidential nominee would give the public a look at his finished tax forms. Ahead of their release, expected at 3 p.m., aides said Romney earned almost $13.7 million last year and paid more than $1.9 million in taxes - an effective tax rate of 14.1 percent.

Romney's campaign earlier estimated that Romney would pay about $3.2 million in taxes.

Romney paid about $3 million in federal income taxes in 2010 - or 13.9 percent.

Critics, including President Barack Obama, have urged Romney to release more than just the two years of returns and follow his father's model. When George Romney ran for president, he released 12 years of tax returns.

The younger Romney is refusing.

Read more details from the returns here.

HuffPost's Dan Froomkin provides some insight on the findings:

The most unusual aspect of Romney's tax filing for 2011, based on the summary provided by his trustee, is that he and his wife chose not to deduct all their charitable contributions -- a decision that led to them paying a higher effective tax rate.

Romney in August declared that he had paid at least 13 percent in taxes over the past decade. Had he deducted all of his $4 million in charitable donations, his tax rate would have fallen below that figure.

Romney told ABC News in July: "If I had paid more than are legally due I don't think I'd be qualified to become president."

Click here to view Romney's 2011 tax returns.

Also on HuffPost:

Things We Know More About Than Romney's Taxes
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