The Facts About Income Tax Millions faithfully file their 1040 forms each April. But some things about federal income taxes may surprise you. Related Content When Heirs are Imperfect The money problems or bad lifestyle habits of adult children could lead to the squandering of any inheritance they receive. Comparing Investments This calculator compares the net gain of a taxable investment versus a tax-favored one. The Average American Budget Learn about the average American budget in this fun and interactive piece.