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 IRA Withdrawals that Escape the 10% Tax Penalty The list of IRA withdrawals that may be taken without incurring a 10% early penalty has grown. A Look at Systematic Withdrawals This calculator may help you estimate how long funds may last given regular withdrawals. Your Shifting Risk Tolerance Time and market performance may subtly and slowly imbalance your portfolio.