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 Keeping Good Records is Good Business Maintaining good records for your business not only helps to meet your tax and legal obligations, but it can save you money. Retirement Plan Detectives A couple become Retirement Plan Detectives, searching records from old employers. The Richest Man in Babylon In good times and bad, consistently saving a percentage of your income is a sound financial practice.