Sources are saying that Mitt Romney will release his 2011 tax returns at 3:00 P.M. The numbers provided by the source would figure out to a tax rate of about 14%. Mitt Romney’s tax returns, or lack thereof, have been a hot-button issue throughout the campaign. Critics say that Mitt Romney is hiding something by not releasing his tax returns. Mitt Romney has so far only released his 2010 returns and 2011 estimate.