by Mike ‘Mish’ Shedlock
The IRS projects 37 Million Less W2 Filings in 2021.
IRS Publication 6961 projects huge reductions in W2 filings through 2027. I picked that up from Bloomberg.
The IRS forecasts there will be about 229.4 million employee-classified jobs in 2021 — about 37.2 million fewer than it had estimated last year, before the virus hit, according to updated data released Thursday. The statistics are an estimate how many of the W-2 tax forms that are used to track employee wages and withholding the agency will receive.
Lower rates of W-2 filings are seen persisting through at least 2027, with about 15.9 million fewer forms filed that year compared with prior estimates.