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Amazon creates billion-dollar tax shield
An examination of accounts filed by 25 Amazon units in six countries show how the company has avoided paying more tax in the United States, where it's based, according to a report from Reuters. Reuters writes that Amazon, in effect, used inter-company payments to form a tax shield behind which it has accumulated $2 billion. Last year, it was announced that the U.S. Internal Revenue Service was seeking $1.5 billion in back taxess, which Amazon said it would "vigorously contest."