(Photo by Nataliya Vaitkevich from Pexels)

NEW YORK — If you’ve ever stared at your tax forms like they’re written in ancient hieroglyphics, you’re not alone. A new nationwide survey has revealed that when it comes to taxes, Americans of all ages are scratching their heads – and some of the misconceptions are pretty eye-opening.

Perhaps most shocking: nearly one in five Gen Zers believe they can write off literally anything as a business expense. That fancy dinner? Write it off! New PlayStation? Business expense! That’s what 17% of them think, anyway. (Spoiler alert: The IRS might have something to say about that.)

The survey, conducted by Talker Research for TurboTax, dug into the tax knowledge of 4,000 Americans. While Gen Z might be digital natives who can make a TikTok video go viral in their sleep, they’re still finding their footing in the tax world. Another stunner: 20% think you don’t need to file taxes at all if you’re a student – which might explain some awkward conversations with the IRS down the road.

But before the older generations start feeling too smug, the survey found that Baby Boomers have their own tax myths to bust. A surprising 27% believe that if you make under the IRS income requirements, you can’t get a refund and don’t need to file. (Plot twist: You might be leaving money on the table with that assumption.)

Here’s another head-scratcher: A quarter of both Millennials and Gen Xers think immigrants don’t pay taxes. In reality, anyone earning money in the U.S. needs to pay their fair share, regardless of where they were born. Uncle Sam doesn’t discriminate when it comes to collecting his dues.

Speaking of collecting, the way Americans file their taxes is changing faster than you can say “W-2.” Remember when everyone huddled around their clunky desktop computers to file? Now, smartphones are giving desktops a run for their money, with both devices tied at 20% usage. Millennials are particularly fond of filing on their phones (28%) – because apparently, if you can order takeout on your phone, why not file your taxes too?

When it comes to tax terminology, things get even more amusing. Less than half of Americans can correctly define the Earned Income Tax Credit. It’s like trying to explain what NFTs are to your grandparents – technically possible, but likely to end in confusion. Gen Z particularly struggles here, with only 37% getting it right, while Baby Boomers lead the pack at 56%. (Finally, revenge for all those times the younger generation had to explain how to attach a photo to an email!)

And if you think “below-the-line deductions” sounds like something from a limbo contest, you’re not alone – only 8% of Americans are familiar with this term. Even “sole proprietor” and “capital loss” send people running for the hills, with only about a quarter of respondents understanding these concepts.

The good news? Americans aren’t procrastinating as much as you might think. A whopping 57% file by the end of February, with only 13% living life on the edge and waiting until April.

According to Lisa Greene-Lewis, CPA and spokesperson for TurboTax, some people would rather brave Black Friday crowds or sit through jury duty than deal with taxes. “There’s no need to be overwhelmed, as there are options offering a done-for-you filing experience, providing unparalleled ease, and fast access to money, whether you want to do your taxes yourself or have a tax expert do your taxes for you,” she says.

When it comes to where Americans want their tax dollars to go, it’s like a nationwide game of Monopoly. Social Security takes the lead at 29%, followed closely by health programs at 28%. Gen Z, in their infinite wisdom, is the only generation pushing healthcare to the top spot. (Maybe they’ve seen their parents’ medical bills?)

The survey also revealed that Americans would actually be willing to pay more in taxes – about 28% of their income instead of the current 23% – if they could choose exactly where the money goes. That’s like saying you’d pay more at a restaurant if you could watch the chef cook your meal. Speaking of money, most people are planning to use their tax refunds for decidedly un-fun things like bills (46%) and savings (43%). Only 13% are planning vacations, and a mere 10% are splurging on self-care. Adulting is hard, folks.