Newt Gingrich Releases His Income Tax Return on the Internet During Debate

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Newt Gingrich Releases His Income Tax Return on the Internet During Debate

Newt Gingrich Releases His Income Tax Return on the Internet During DebateAs a debate began between the Republican presidential candidates, Newt Gingrich released his 2010 federal income tax return, placing it on the Internet for all to see.

In an obvious political ploy to goad his opponent Mitt Romney into revealing his income tax returns, Newt Gingrich’s campaign released the tax return along with a statement:

“Speaker and Mrs. Gingrich owed federal taxes of $994,708 on an adjusted gross income of $3,142,066. $613,517 of the tax amount owed had been previously withheld or otherwise paid, and the couple paid the remaining balance due of $382,734 (which included an estimated $1,543 tax penalty) with their filing.”

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“Included in the wage and salary income reported on Speaker and Mrs. Gingrich’s tax return is $450,245 in combined wages; $41,625 in income from speaking and board of directors fees; $6,853 in rental income from real estate holdings; $11,892 in ordinary dividends; $5,990 in qualified dividends; and $2,525,683 in income from partnerships and S corporations, including the Lubbers Agency Inc. and Gingrich Holdings, Inc.

Read More: http://mashable.com/2012/01/19/newt-gingrich-income-tax-return/

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