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 Money Draining Food Myths These food myths will really put a drain on your wallet. Counteracting Capital Gains with Tax-Loss Harvesting You may have heard the phrase "tax-loss harvesting." A financial professional may be able to provide some guidance. Required Reading: The Economic Report of the President The Economic Report of the President can help identify the forces driving — or dragging — the economy.