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 Does Your Child Need to File an Income Tax Return? When your child has income, there’s a good chance that he or she will need to report it and pay taxes. Tax Rules When Selling Your Home The tax rules governing profits you realize from the sale of your home have changed in recent years. Death is No Excuse The federal government requires deceased individuals to file a final income tax return.