Gen Zers and Millennials Panic the Most About Taxes, Survey Finds

Taxes | March 18, 2025

Gen Zers and Millennials Panic the Most About Taxes, Survey Finds

A new survey from CNET reveals that 44% of tax filers have anxieties and fears about filing their taxes, with Gen Z and millennials freaking out the most at 51% and 48%, respectively.

Jason Bramwell

A new survey from technology news website CNET reveals that 44% of tax filers have anxieties and fears about filing their taxes, with Gen Z and millennials freaking out the most at 51% and 48%, respectively.

The biggest concern—cited by 25% of the 877 adults surveyed by CNET who plan to file a tax return this year—is making a mistake on their return, with Gen Z filers (33%) and millennials (27%) leading the way. About one in five Gen X filers (22%) and baby boomers (20%) are also afraid of making an error on their tax return. 

Jassen Bowman

“While we all need to make our best effort to file a complete and accurate tax return, mistakes will happen,” Jassen Bowman, an enrolled agent, told CNET. “The IRS has robust systems for catching errors via computer matching, and they will notify you if they catch something.

“There’s no reason to beat yourself up over an honest mistake,” he added. “There are procedures in place to address such situations.”

Other top concerns among survey respondents were exposing their personal information to scammers (17%) and owing the IRS more money than they can afford (15%).

According to the latest 2025 tax season data from the IRS, the agency has sent out more than 43.6 million tax refunds to taxpayers, up 1.5% compared to early March 2024. The average refund amount sits at $3,324—5.7% higher than last year. Most filers who expect a refund told CNET they plan to put that money toward bills or savings goals this year. CNET also found that 38% of filers plan to use their refund to make ends meet by using it to pay bills, debt, rent, or their mortgage. 

Survey respondents showed a willingness to exhaust all options for tax advice. About a quarter of filers said they will sit down or schedule a call with a tax professional—whether they intend to file with an accountant or on their own. Six percent indicated they are turning to social media sites like Instagram and TikTok for tax advice—something the IRS frowns upon.

Jasmine Johnson

“Social media can be a great place for discovering tax tips and suggestions, but it shouldn’t be the final source of advice,” Jasmine Johnson, an accredited financial counselor and accountant, told CNET. “I always advise taxpayers to do their own research, consult a professional, and fully understand the tax implications before applying or sharing any advice.”

This year, many respondents are also leveraging artificial intelligence to help with their taxes: 7% of filers plan to use AI assistants like Gemini and ChatGPT to bolster their tax knowledge, and 5% plan to use AI chatbots integrated into tax services, such as H&R Block’s AI Tax Assist. 

The top option to file taxes was Intuit’s TurboTax software (16%), followed by 15% of filers who plan to file with an accountant, according to CNET. Other options include: via a trusted person (6%), myself via mail (5%), FreeTaxUSA (5%), H&R Block online (4%), tax filing software (4%), IRS Free File (4%), H&R Block office (3%), IRS Direct File (3%), other (3%), Cash App Taxes (2%), TaxAct (2%), Tax Slayer (1%), and Jackson Hewitt (1%). Nine percent don’t know yet.

One-third of tax filers, led by Gen Z and baby boomers, are unsure about their free filing eligibility this year, according to CNET. Johnson said many taxpayers aren’t aware of all of the free filing options, and the confusing tax jargon can make it hard for many to understand if they qualify. 

“Terms like AGI [adjusted gross income], deductions, and credits leave people unsure of what applies to them,” she said.

You can find CNET’s full survey report and results here.

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