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Many millenials don't deal with the IRS

Indeed, millenials see the world differently than Generation X’ers and baby boomers. They handle relationships, employment and technology quite different than how other generations. Because of this, it is not surprising that they handle the issue paying taxes differently too.

Yes, millenials subscribe to the “gig economy,” meaning that they are more comfortable taking on independent, part time jobs to meet their financial goals or to save some money. Chances are you’re your Uber driver is a millenial. If you are seeking a creative work for a website, a millennial is likely to be working on it.

In taking on these jobs, millenials are more likely to neglect having taxes taken out for their services. So, yes, they are not scandalous tax cheats, but withholding mistakes could lead to considerable trouble. 

Even more troubling, a NerdWallet survey found that fewer than 10 percent of millenials actually contact the IRS with questions. Moreover, fewer than half of those surveyed even consulted an experienced tax pro. Because of this, a majority of millenials may be left to ask friends and family for help and guidance on their taxes. These people may mean well, but are not versed on the specifics that could help when tax problems arise.

Ultimately, millenials are putting themselves at risk when they don’t seek information or contact the IRS. This is particularly troubling when the IRS notifies them of such trouble by letter (given that the IRS does not communicate through email).

So if you questions about IRS notices, an experienced tax attorney can help. 

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Law Offices of Charles R. Frazier
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