as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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explain why filing an income tax return is mandatory.
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filing an income tax return is mandatory because it is the government’s way of collecting funds for the country’s infrastructure, services, and administration. the funds from the income tax return allow the government to pay for or subsidize essential services such as healthcare, social welfare programs, housing, education, and transportation.
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