The Facts About Income Tax Millions faithfully file their 1040 forms each April. But some things about federal income taxes may surprise you. Share | Have A Question About This Topic? Name Email Address Message Thank you! Oops! Related Content 12 Steps to Living: Horizon, Risk Tolerance, and Compounding Understand the concepts of horizon, compounding, and risk tolerance, and create an investment plan. What Is My Current Net Worth? Use this calculator to estimate your net worth by adding up your assets and subtracting your liabilities. How the Federal Reserve Works Each day, the Fed is behind the scenes supporting the economy and providing services to the U.S. financial system.