The Facts About Income Tax Want to be Smarter With Your Money? Join our mailing list and get news and info to support your financial goals. First Name Last Name Email Address Thank you! Oops! Millions faithfully file their 1040 forms each April. But some things about federal income taxes may surprise you. Share | Related Content Home Mortgage Deduction Use this calculator to assess the potential benefits of a home mortgage deduction. Red Flags for Tax Auditors Here are six flags that may make your tax return prime for an IRS audit. Tax Management Strategies Learn more about taxes, tax-favored investing, and tax strategies.