Following up on last month’s post, Republicans Demand Buffett’s Tax Return: Warren Buffett yesterday sent this letter to Rep. Tim Huelskamp (R-Kan.) (responding to this letter from Rep. Huelskamp), declining an invitation to release his tax return but disclosing this information from his 2010 Form 1040:

• Adjusted Gross Income (line 37):  $62,855,038
• Taxable Income (line 43):  $39,814,784
• Federal Income Tax (line 60):  $6,923,494

Mr. Buffett also reported that he paid $15,300 in payroll taxes, resulting in a 17.4% effective tax rate:

($6,923,494 + $15,300)/$39,814,784 = 17.4%

Mr. Buffett said he would release his full tax return if the other 399 of the richest 400 Americans release theirs.

Press and blogosphere coverage:

• Bloomberg
• CNN
• The Hill
• Reuters
• Wall Street Journal