June 13, 2025
TL;DR Gen Z & Millennials: You could be leaving thousands on the table.
We’re talking student loan interest, the EITC, education credits, and other IRS refund boosters 🔍
You don’t need to be rich—just smart about how you file 🧾
Did You Know?
What if we told you the IRS could send you more money—and it’s 100% legal?
Every year, millions of Gen Zers and Millennials skip out on legit tax credits that could fatten up their refunds. If you’re paying student loans, side hustling, or enrolled in school, there are ways to make the tax code work for you—without loopholes or spreadsheets.
Truth is, if you’re not filing the right way, you’re probably tipping Uncle Sam… and that’s one bill no one needs to leave extra on.
Let’s change that. We’re showing you how to flip your tax return from “meh” to “major refund,” step-by-step.
Tax Credits Gen Z & Millennials Always Miss
Ameriancan Opportunity Tax Credit (AOTC)
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Worth up to $2,500 per year
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Covers tuition, books, and qualified fees
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Up to $1,000 is refundable (real money back, not just a deduction)
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For students in their first 4 years of postsecondary education
Income phaseout starts at $80,000 for single filers, $160,000 for joint.
Lifetime Learning Credit (LLC)
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Claim up to $2,000/year
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Perfect for grad school, online learning, or part-time programs
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No cap on how many years you can claim it
Ideal for working learners, career pivoters, and self-paced scholars.
Earned Income Tax Credit (EITC)
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Often overlooked by younger filers with no kids
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Worth up to $7,830
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It’s refundable, so you can still get paid even if you owe $0
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If you’re side hustling or earning under $17K solo? Don’t skip this.
Deductions You Need to Take
Student Loan Interest Deduction
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Deduct up to $2,500 per year
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Works even if you don’t itemize
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Use your 1098-E form from your loan servicer
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Starts to phase out at $80,000 (single) or $165,000 (married)
HSA & IRA Contributions
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Lower your adjusted gross income (AGI)
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Unlock Saver’s Credit and other tax benefits
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Can contribute until April 15 for the previous year
You’re not just saving for retirement—you’re lowering your tax bill right now.
Filing Status Hack: Head of Household
If you’re supporting a dependent (even partially), filing as Head of Household may increase your refund:
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Higher standard deduction
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More favorable tax brackets
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Additional credits you can’t get filing “Single”
IRS Refund Tips for Gen Z & Millennials
Want your refund faster, bigger, and with less stress? Follow this cheat sheet:
✅ File—even if you made under the standard deduction
💳 Use direct deposit for the fastest refund
⏱️ Max out HSA/IRA contributions by April 15
💻 Use IRS Free File or VITA volunteer tax prep if eligible
👀 Review forms like 8863 (for AOTC) and 1098-E for missed deductions
App Spotlight: Monarch Tax Prep Review
| Feature | Rating |
|---|---|
| User Interface | ★★★★★ – Smooth and beginner-friendly |
| Tax Credit Guidance | ★★★★☆ – Great tips for AOTC, EITC |
| Mobile Friendliness | ★★★★★ – Easy to file on the go |
| Downsides | Free plan doesn’t include state returns |
👉 Try Monarch Tax Prep (affiliate link)
Helpful Resources
Internal Reads from PersonalOne:
FAQ
Q: Do I need to file taxes if I made under $12,950?
A: Maybe not legally—but yes, if you want to get refundable credits like the EITC or AOTC.
Q: Can I claim the AOTC if I live at home with my parents?
A: Yes—as long as you paid the tuition and meet eligibility. The key is who paid, not where you live.
Q: What if I earned under $10K freelancing?
A: You still need to file. And you may qualify for credits, so it could be worth it and profitable.
Final Takeaway
Getting a bigger tax refund isn’t magic—it’s just strategy.
Know your credits. Take your deductions. Use tools made for you. Whether you’re a student, freelancer, or juggling three side gigs, you can legally get the IRS to pay you more—if you file smart.
📣 Share this with your group chat, drop a comment if you learned something new, and let us know how big your refund is this year.
☕ Like this guide? Buy me a coffee and help keep the info rolling.
⚖️ Financial Disclaimer
This content is for informational purposes only and is not tax advice. PersonalOne.org is not affiliated with the IRS or any government agency. Always consult a qualified tax professional before filing. This page may contain affiliate or partner links, meaning we could earn a small commission if you click or buy—at no cost to you. We only promote tools and products we believe can offer real value.
