Common Tax Misconceptions for Young Taxpayers Ahead of April 15 Deadline

S. taxpayers to file their 2023 returns. Young people, including students and those in gig economies, have access to numerous resources such as artificial intelligence tools, social media, and family advice for filing.

However, some information circulating online contains inaccuracies, according to Lisa Greene-Lewis, a CPA and TurboTax expert. Greene-Lewis stated that she has observed significant misinformation regarding tax advice. Young taxpayers often work in content creation, videography, photography, or multiple gigs amid slower traditional hiring and higher living costs.

Proper understanding of deductions is essential for self-employed individuals in these fields.

Many young creators purchase supplies for producing videos or photos.

Deductible expenses include camera equipment, production tools, and home offices, Greene-Lewis said. Personal items like clothing used in creator profiles are not deductible, contrary to some online claims. Self-employed individuals should maintain records of work-related purchases to claim eligible deductions.

This practice can reduce taxable income. The IRS provides guidelines on business expenses for sole proprietors and freelancers.

intelligence tools like ChatGPT offer quick responses to queries.

However, sharing personal details such as Social Security numbers, addresses, or birth dates in open chats lacks protection, Greene-Lewis noted. She advised against using AI for specific tax advice or filing. " — Lisa Greene-Lewis (Usa Today) Alternatives include consulting trusted individuals, professional tax services, or the IRS Free File program, available for those with adjusted gross income of $89,000 or less.

These options ensure compliance and security.

Some students and young workers believe they do not need to file if they earn limited income or attend school.

Filing is recommended regardless, as it allows access to refunds and credits. The American Opportunity Tax Credit covers qualified education expenses for the first four years of higher education. Reviewing W-2 forms is necessary even if no taxes are owed, as withholdings may result in refunds.

Non-filing means forgoing potential returns. The IRS encourages all eligible individuals to file annually.

tax rules from the "One Big Beautiful Bill" took effect, affecting 2025 returns filed in 2026.

A January 2026 TurboTax survey indicated that 41% of Americans reported lacking understanding of the law's impact on their taxes. The legislation includes provisions that may benefit young workers. Key changes encompass a deduction for up to $25,000 in tips, applicable to service and gig jobs like rideshare driving or cosmetic services.

An overtime deduction allows up to $12,500 for individuals or $25,000 for married couples. The Child Tax Credit has expanded for parents with children under 17. Young taxpayers in affected roles should review eligibility to claim these benefits.

Consulting IRS resources or tax professionals can clarify application. Accurate filing supports financial planning in a challenging economic environment.