What We Still Don’t Know About Mitt Romney’s Taxes
propublica.org — With the documents Mitt Romney released recently, we know a bit more about his taxes. We know, for instance, that Romney paid a rate of 14.1 percent on $13.7 million in income on his 2011 tax return, which he achieved by purposely overpaying. Though he was entitled to deduct $4 million in charitable contributions, Romney deducted only $2.25 million to keep his tax rate above 13 percent. We know that Romney has paid state and federal income taxes each year since at least 1990. And we know that Romney’s tax rate since 1990 never dipped below 13.66 percent, according to his accountants. Romney paid an average effective tax rate between 1990 and 2009 of 20.2 percent. But there’s still a lot we don’t know. “I think most of the major questions we had before are still out there,” said Brian Galle, a tax law professor at Boston College. Here are a few.