This video is about the basics of filing tax returns. It targets people like Ray, an incoming senior at state university who just finished up a summer internship and made a significant amount of money. The video explains whether Ray needs to file a tax return and how to find out.

Here are the 3 key things you will learn in this video:

  • The general rule to determine if you need to file a tax return: If your income exceeds a certain threshold, you will need to file a tax return. The video mentions the threshold in 2015 for single independent individuals is $10,300.
  • What is considered gross income: The video explains that gross income includes all major forms of income such as earned income and unearned income.
  • How to use the IRS tool to decide if you need to file a tax return: The video introduces a tool provided by IRS that can help people decide whether they need to file a tax return.


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