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Millennials Clueless About Taxes

If you haven’t filed your taxes yet, you have until Tuesday, and while you may think most people know that, a new survey reveals just how clueless some people, well, Millennials, are about it.

A poll by H&R Block finds that 66% of Millennials don’t know that tax day falls on April 17th this year. The usual April 15th deadline falls on Sunday and April 16th is Emancipation Day, so it’s the 17th this year.

But that’s not the only thing they are clueless about when it comes to taxes, and it could be costing them money. While certain “life events” like getting married or having kids greatly affects your return, only 22% know how they affect their taxes, which is bad news, considering 72% have had one of these life events occur last year, with changing jobs (35%) and working more than one job (24%), the most common change.

Not surprising, half of Millennials say filing their taxes have caused them stress or loss of sleep, which makes sense considering 82% think filing taxes are somewhat complicated, while 21% think it’s very complicated. And while 61% will file taxes on their own, they may want to rethink that, since 70% are worried they’ll file them incorrectly. 

Source: New York Post

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