Are you familiar with common tax terms? 20% of Gen Zers don’t think students need to file taxes, a survey of 4,000 Americans found. 13% of young adults mistakenly think if you’re paid in cash, you don’t have to pay taxes. But Gen Zers aren’t the only ones who are misinformed during tax season: 25% of millennials and Gen Xers believe immigrants don’t pay taxes. “Filing taxes can feel overwhelming—so much so that 20% of people would rather face Black Friday crowds or go to jury duty,” CPA Lisa Greene-Lewis of TurboTax said. 26% of those polled don’t know what “sole proprietor” means, and 25% would struggle to define “capital loss.” (swnsdigital)
Phone Topic: How did you feel doing taxes for the first time?