Your Cash Flow Statement 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? Name Email Address Message Thank you! Oops! Related Content How Income Taxes Work A quick look at how federal income taxes work. Required Reading: The Economic Report of the President The Economic Report of the President can help identify the forces driving — or dragging — the economy. What Is a 1035 Exchange? 1035 exchanges provide a way to trade-in an annuity contract or life insurance policy without triggering a tax liability.