The news during late summer 2012 has been dominated by the 2012 Olympics in London and the presidential race in the United States. Tax connections to both issues were covered in posts last week at my other tax blog.
A bill was introduced to provide Olympians tax relief from the financial rewards they receive for finishing with a medal. The idea has stirred up as much conversation and controversy as some of the events themselves.
Controversy also is what's swirling around Mitt Romney's personal taxes.
Romney continues to keep his filings out of the public eye. Perhaps some of the secrecy is because the Republican presidential candidate admitted that the Internal Revenue Service had audited some of his past returns. Interesting.
I don't expect anything to come of the proposed Olympians' tax break bill.
I also don't expect Romney to release any more than his final 2011 Form 1040 and accompanying schedules.
But you never know. So keep an eye on Congress, the medal standings and Mitt.
You can check out my posts over at Bankrate Taxes Blog each Tuesday and Thursday. If you happen to miss them on those days, look for a wrap-up here the following weekend.
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