In 2009 the Internal Revenue Service had a one-time amnesty for those who had failed to pay taxes on overseas accounts. To quote from the frequently asked questions document on the program, issued in May of 2009, the objective of the amnesty program was
to bring taxpayers that have used undisclosed foreign accountsThose who had previously failed to report income on such accounts and entities could voluntarily disclose them and pay back taxes without being subject to penalties.
and undisclosed foreign entities to avoid or evade tax into compliance with
United States tax laws. Additionally, the information gathered from taxpayers
making voluntary disclosures under this practice will be used to further the IRS’s
understanding of how foreign accounts and foreign entities are promoted to
United States taxpayers as ways to avoid or evade tax. Data gathered will be
used in developing additional strategies to inhibit promoters and facilitators from
soliciting new clients.
So the question is simply this: in 2009 did you (Mitt and Ann Romney) avail yourself of this amnesty program from the IRS? Did you pay taxes on previously unreported income from such funds? Will you release your complete 2009 Federal tax filings including all schedules and amendments to support your answer to this question?
We already know you had foreign accounts.
We already know from your not fully released 2010 return that you had accounts that were not accounted for in previous financial disclosure statements, some of which you may have amended since they were originally filed.
So you can address this question now and release the relevant documents - after all, they subject you to no LEGAL jeopardy, unless you were not fully honest in filing them.
Political jeopardy? Hey, did you run for President in 2008 while having undisclosed overseas financial assets on which you were not paying taxes.
Or let's put it another way. You say now you have paid all the taxes you are legally required to pay.
Mitt and Ann Romney - prior to any corrections made as a result of the 2009 IRS Amnesty program, had you paid all federal taxes you were legally required to pay?
You know what? IT is simple. Will you release ALL of your 2009 tax related document or not?
If not, why aren't we entitled to assume, and to promote to the world, that you are hiding something, including the very real possibility that you took advantage of an amnesty program to protect yourself from civil and possibly criminal penalties.