GOP presidential candidate Mitt Romney. Charles Dharapak, AP
(USA TODAY) - Mitt Romney will release his 2011 tax return this afternoon, showing that he paid an effective rate last year of 14.1%.
Romney and his wife, Ann, paid more than $1.9 million in taxes on about $13.7 million in income, most of which come from investments. The Romneys donated slightly more than $4 million to charity last year, amounting to nearly 30% of their income.
The information comes from Brad Malt, who manages the Romneys' blind trust. He made the disclosure on a blog post on the Romney campaign website. The documents will be released at 3 p.m. ET.
Romney, the wealthiest GOP presidential nominee in decades, has been under fire from President Obama and Democrats for refusing to release more than two years of tax returns. Senate Majority Leader Harry Reid has asserted that Romney has paid no income taxes in some years, a point that Romney has vehemently denied.
His campaign will post a notarized letter from Pricewaterhouse Coopers, showing that Mitt and Ann Romney paid both state and federal income taxes for a 20-year period, starting with 1990 and going through 2009. The Romneys already released their income tax return for 2010.
Malt said in his note posted online that the Romneys paid an average annual effective tax rate of 20.2% during the entire 20-year period. The lowest they paid was 13.66% -- which would support Romney's claim in August that he's paid at least 13% every year.
In that period, Malt said the Romneys gave an average of 13.45% of their adjusted gross income to charity.
By Catalina Camia, USA TODAY