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A new report released by the Institute for Policy Studies reveals that 25 CEOs of the richest firms in the U.S. earned more than their firms paid in taxes.

A direct result of tax shelters and clever accounting, many of these firms managed to escape filling the federal coffers by having some of their funds in offshore tax havens — and escaped with an average refund of $304 million.

The firms, which include Boeing, Ford, eBay, General Electric, Verizon and Prudential to name a few, made an average of $1.9 billion in global profits each in 2010.

“These CEOs are reaping awesomely lavish rewards for the tax-dodging they have their corporations do,” concluded the report from the liberal Institute for Policy Studies.

Read more at NYDailyNews

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