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 Comparing Investments This calculator compares the net gain of a taxable investment versus a tax-favored one. “Dirty Dozen” Tax Scams to Watch For Every year the IRS releases its list of tax scams, spotlighting some ways that people try to separate you from your money. Home Mortgage Deduction Use this calculator to assess the potential benefits of a home mortgage deduction.