IRS Projects Millions of Jobs Will Vanish for Years

by Mike ‘Mish’ Shedlock
The Street

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.

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