I assume you are asking about an escrow account maintained in connection with your home mortgage.
The escrow account itself has no impact on your income taxes. However, the amounts actually disbursed from the account, to pay real estate taxes, for example, can be valuable itemized deductions, if you do not take the standard deduction.
My advice is to enter into TurboTax all your potential itemized deductions: medical expenses, mortgage interest and PMI, real estate taxes, charitable contributions, etc. Then, let TurboTax determine whether you will be better off by taking the standard deduction or by itemizing.
For more information, please see IRS Pub. 530 Tax Information
for Homeowners.