Did Mitt Romney sell Bain Retroactively?
Did Mitt Romney file Amended Income Tax Returns for 1999, 2000, 2001 & 2002 to reflect any and all Retroactive Income for Retirement Pay and/or Income earned for Retroactively selling Bain?
Documents show Romney earned "over $100,000.00" as "Executive" of Bain up through 2002.
Documents show Romney signed off as CEO through 2002.
Bain Capital Investment LLC lists Romney as Managing Member in Annual Reports filed with the State of Massachusetts through December 2002.
Ed Gillespie says Romney retired in 2002 retroactively to February 1999 - even though, in July 1999 Bain Capital issued a Press Release regarding Geoffrey S. Rehnert and Marc B. Wolpow leaving Bain to Start New Private Equity Firm
"Bain Capital CEO W. Mitt Romney said ... we will miss them, we wish them well and look forward to working with them as they build their firm."
Hmmmm ... retroactive retirement for February 1999 and not July 1999? hmmm...
These two questions are very important:
Did Mitt Romney sell Bain Retroactively?
Did Mitt Romney file Amended Income Tax Returns for 1999, 2000, 2001 and 2002 to reflect any and all Retroactive Income for Retirement Pay and/or Income earned for Retroactively selling Bain?
IRS Website - the only thing I could find is
retroactive retirement pay for a disabled Vet:
If you retire from the armed services based on years of service and are later given a retroactive service-connected disability rating by the VA, your retirement pay for the retroactive period is excluded from income up to the amount of VA disability benefits you would have been entitled to receive. You can claim a refund of any tax paid on the excludable amount (subject to the statute of limitations) by filing an amended return on Form 1040X for each previous year during the retroactive period. You must include with each Form 1040X a copy of the official VA Determination letter granting the retroactive benefit. The letter must show the amount withheld and the effective date of the benefit.
IRS Website on back-pay:
Employers should use Form W-2, Wage and Tax Statement, or electronic wage reports to report back pay as wages in the year they actually pay the employee. The SSA no longer accepts reports on tapes, cartridges, and diskettes.
Meaning: The Retroactive Retirement Income should, at the very least, be on his 2002 Income Tax Returns?