Did Romney earn tax credits for overseas profits? - WAOW - Newsline 9, Wausau News, Weather, Sports

Did Romney earn tax credits for overseas profits?

Posted:
WASHINGTON DC (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.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

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