A Brief Introduction to Taxes and Tax Filing

Disclaimer: We are a group of students at UC Davis interested in learning more about the tax process and wanted to consolidate and share what we have learned so far with others. We are not accountants, financial experts, or tax professionals, and we encourage you to further research or seek professional guidance for your individual tax circumstances. Please let us know if you notice any information that is misleading or incorrect, and be aware that rules and laws related to taxes are constantly changing; this information was compiled in April 2021.

Topics covered in this video include: What are taxes? Why do you have to pay taxes? What is a filing status? Who pays taxes? What are the different types of taxes? When do you pay taxes? How does the government know how much you owe? How much do you owe? What are tax brackets? What is a marginal tax rate? What are tax refunds?