The Facts About Income Tax Millions faithfully file their 1040 forms each April. But some things about federal income taxes may surprise you. Share | Related Content Making Your Tax Bracket Work Have you explored all your options when it comes to managing your taxable income? How to Make the Tax Code Work for You When you take the time to learn more about how it works, you may be able to put the tax code to work for you. Home Mortgage Deduction Use this calculator to assess the potential benefits of a home mortgage deduction.