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 Exit Strategies of the Rich and Famous Estate conservation is too important to put off. Do you have a smart exit strategy? Taxable vs. Tax-Deferred Savings Use this calculator to compare the future value of investments with different tax consequences. What’s My 2024 Tax Bracket? Check out this handy reference of updated ranges from the IRS in case your designated bracket has changed.