John McCain: Mitt Romney Tax Returns Show He Paid Uncle Sam (VIDEO)

Another issue which the media has flagged is the monster size of Romney’s IRA. The tax expert’s view:

IRAs. Issue: Can profits interests or special classes of shares in private equity target companies be contributed to IRAs?

Romney has a gigantic IRA, which may hold as much as $100 million in assets. We do not know what it contains. We can only speculate. Given the applicable contribution limits, it is hard to see how the IRA got so big, even if Bain deals were hugely profitable. Regardless of what is in the IRA, serious valuation and self-dealing questions are raised.

A detailed discussion follows, and it’s hard to see how this IRA is kosher.

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