Why hasn’t Romney released tax return? 2011 isn’t ready yet

Republican U.S. presidential challenger Mitt Romney plans to make public his 2011 tax return by Oct. 15, a senior campaign adviser said yesterday.

Romney, a former private equity executive who is one of the richest men ever to run for president, has come under pressure for months from the Obama campaign to release more years of tax returns.

He has released his 2010 tax return and estimates for 2011 but does not plan to reveal more years of returns. In April, he requested an extension from the Internal Revenue Service to file his 2011 tax forms, while estimating his tax liability at $3.2 million for last year.

Ed Gillespie, a senior Romney adviser, indicated the former Massachusetts governor would release the 2011 return by Oct. 15, about three weeks before the Nov. 6 election, but refused to say exactly when.

“Look, Oct. 15 is the deadline for the IRS on an extension. We have said as soon as they’re ready we’re going to release them. And I believe they’ll be ready before that,” Gillespie told the “Fox News Sunday” program.

“They’re being finalized. There’s a lot of forms that have to come in from other entities that the governor doesn’t have control over,” Gillespie added.

He said Americans will have “ample information” about Romney’s taxes with the disclosure of the 2010 return and the planned release of the 2011 return.