Tax Return | featured news

President Obama and first lady Michelle Obama paid more than $112,000 in taxes in 2012, an effective federal income tax rate of more than 18% for 2012, according to the White House. The Obamas and Vice President Biden and his wife released their tax returns Friday, three days before the April 15 tax filing deadline. The Obamas' adjusted gross income for the year was $608,611. The president earned more than $394,000 in salary, and the Obamas took in $258,000 in book royalties.

A single malicious email sent to workers at the South Carolina Department of Revenue last August enabled an international hacker to gain access to 3.8 million tax returns.

Using a tax shelter called a CRUT (charitable remainder unitrust) that was held by the Church of Latter Day Saints (Mormons), Mitt Romney was able to pay zero taxes (legally) every single year from 1996 to 2009. Why did he stop in 2009? Because he would make public his 2010 tax return, that is why.

Gov. Christie and his wife paid $141,158 in federal income taxes for 2011 on a combined adjusted gross income of $567,772.

...The Romneys gave $4.1 million to charity, but only took a deduction of 2.5 million of that in order to make sure their tax rate stayed above 14 percent... If he loses, he might be able to file an amended return and claim those deductions anyway.

Mitt Romney and his wife, Ann, paid $1.94 million in federal income taxes on 2011 income of $13.7 million, most of it from investments, for an effective tax rate of 14.1 percent, his campaign said Friday.

Larry Flynt has an offer for Mitt Romney. The Hustler magazine founder, editor and publisher announced that he is offering "up to a million dollars in cash" for the Republican presidential candidates "tax returns and/or details of his offshore assets, bank accounts and business partnerships," a statement reads.

The Secret Service said Wednesday it is investigating the reported theft of copies of Republican presidential candidate Mitt Romney's federal tax records during a break-in at an accounting office in Franklin. Someone claiming responsibility demanded $1 million not to make them public....

Mitt Romney says in an interview that one reason he's reluctant to release his tax returns is that it reveals how much money he and his wife have given to the Mormon church.

When it comes to their federal taxes in the last two years, Republican presidential candidate Mitt Romney has paid a lower federal tax rate than his running mate, Rep. Paul Ryan. Ryan, R-Wis., paid an effective federal tax rate of 15.9 percent in 2010 and 20 percent in 2011, according to tax returns released by the Romney campaign Friday evening.