Tax Management Strategies The slideshow presentation that you would like to view is too large for your current screen resolution. Click here to view to view the slideshow at full resolution. Launch Presentation » Share | Have A Question About This Topic? Address Thank you! Oops! Related Contents The Facts About Income Tax Millions faithfully file their 1040 forms each April. But some things about federal income taxes may surprise you. How Income Taxes Work A quick look at how federal income taxes work. Federal Income Tax Use this calculator to estimate your income tax liability along with average and marginal tax rates.