The Facts About Income Tax Millions faithfully file their 1040 forms each April. But some things about federal income taxes may surprise you. Related Content Your Emergency Fund: How Much Is Enough? Having an emergency fund may help alleviate the stress and worry associated with a financial crisis. 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. Traditional vs. Roth IRA One or the other? Perhaps both traditional and Roth IRAs can play a part in your retirement plans.