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Americans can officially start filing their income-tax returns with the Internal Revenue Service (IRS) beginning Monday, Jan. 29, as announced by the federal tax collector. The deadline for payment of any taxes owed is set for Monday, April 15, which also marks the last day to file a return or request an extension until Oct. 15. It’s important to note that taxpayers in Maine and Massachusetts have an extended deadline until April 17 due to the observance of Patriot’s Day and Emancipation Day in those states.

By April 15, the IRS anticipates receiving a staggering 128.7 million income-tax returns, making this tax-filing season one of great significance. With millions of Americans aiming for their largest possible tax refund or the smallest possible tax bill, the season takes on added importance against the backdrop of red-hot inflation.

Last year, the IRS issued a total of 105.7 million refunds, with an average payout of $3,167.

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