Did Romney earn tax credits for overseas profits? - WXOW News 19 La Crosse, WI – News, Weather and Sports |

Did Romney earn tax credits for overseas profits?

WASHINGTON (AP) -- Republican presidential candidate Mitt Romney says he doesn't remember paying any foreign income taxes.

That was in response to a pointed question at a town-hall style event Monday in Cleveland. One man wanted Romney's comments on the more than $1.5 million the candidate and his wife reportedly earned in U.S. credits for taxes they paid overseas.

Romney said he didn't believe he paid taxes overseas. The audience booed the man's question.

Internal Revenue Service rules allow some businesses and investors to take credits for the money they earn overseas to prevent them from being doubly taxed at home.

Powered by WorldNow
All content © Copyright 2000 - 2013 WorldNow and WXOW. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.

Persons with disabilities who need assistance with issues relating to the content of this station's public inspection file should contact Administrative Assistant Theresa Wopat at 507-895-9969. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, at 888-835-5322 (TTY) or at fccinfo@fcc.gov.