U.S. Tax Return Forecasts Through 2028 See Tepid Gains Out West

Projections from the Internal Revenue Service show fewer individual tax returns to be filed in the West over the next six years, offering a glimpse of future population trends.

The statistical models anticipate declines in Alaska and Hawaii by 2028, and gains of less than 1% in Arizona, California, Nevada, Washington and Oregon. The largely internal tool, which helps the IRS with resource planning, also sees soft advances in Illinois, Michigan, and West Virginia in that time period.

The strongest increases are seen in states with some of the lowest unemployment rates, like Nebraska, Georgia and Oklahoma. The migration can be due in part to Americans moving to new cities in the remote-work era.

To contact the reporter on this story:
Alex Tanzi in Washington at atanzi@bloomberg.net

To contact the editors responsible for this story:
Scott Lanman at slanman@bloomberg.net

Molly Smith

© 2022 Bloomberg L.P. All rights reserved. Used with permission.