Tax Season Stress Hits Gen Z Harder Than Any Other Age Group

A recent study by Qualtrics for Intuit TurboTax reveals that tax season is the most stressful financial period for 46% of Americans, particularly affecting Gen Z, where 62% report significant anxiety. The pressure of filing taxes is compounded by fears of making errors, with 49% of all respondents expressing concern over incorrect filings. Many are also counting on tax refunds, with 52% expecting one this year, and 45% of Gen Z planning to use their refunds for nonessential purchases. As tax season approaches, younger generations are increasingly turning to AI for assistance, although trust in these tools remains low among the general population. The findings highlight the need for support and early preparation to alleviate tax-related stress.

Key Details: • 62% of Gen Z find tax season to be their top financial stressor. • 52% of Americans expect a tax refund this year; 45% of Gen Z plan to spend it on nonessentials. • 30% of respondents report that filing taxes negatively impacts their mental health. • Start gathering tax documents now to streamline the filing process. • Consider seeking help or using AI tools for filing assistance.