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GRE Business Report: January 30th

A look at the top business headlines.
Consumers can begin filing an income tax return with the IRS on January 31st. It is the second year in a row that the opening of tax season has been delayed. If you are wondering if the delayed started also means a delayed deadline, the answer is no. The deadline to file is April 15th. Those who need extra time can file for a six-month extension until October 15th, though late payment penalties on balances still apply.

Internet giant Google is selling its Motorola smartphone business to Chinese PC makers Lenovo for $2.9 billion. The deal includes Motorola smartphone brands like the Moto X and Moto G and the Droid Ultra series. But Google will retain ownership of most of its Motorola mobility patents. The deal is still subject to regulatory approval. Lenovo also acquired IBM's PC business and bran in 2005.  

The Federal Reserve decided to continue winding down its massive bond-buying program after Ben Bernake's final meeting as Chairman Wednesday. The reserve said it will reduce its bond-buying program to $65 million next month. They had been buying $85 million in bonds each month since September 2012 in an attempt to stimulate the economy. But it began reducing the program this month, a process Wall Street has nicknamed "tapering." 
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