Louisiana Has Recovered 80% Of Erroneous Tax Refunds
We've all experienced that feeling. You know, the feeling of putting your hand in your pocket and discovering cash that you didn't know you had? For 66,700 Louisiana taxpayers that feeling came in the form of extra money sent to them in error by the state's Department of Revenue.
How much money did the state of Louisiana let slip through the cracks when a "computer error" caused nearly 70,000 residents to receive a double refund? The round number is about $26 million.
The good news, at least for the state, is that $22 million of the $26 million has been recovered. Since most of the refunds were sent directly to bank accounts it was fairly easy to reverse the process and collect the cash.
That still leaves about $4 million unaccounted for. Officials with the Department of Revenue say they are working diligently to recover that money as well. However, if the money can't be reclaimed electronically then those taxpayers who were paid double will be getting a letter from the state.
So far no letters have been mailed out. However, that will likely change in the coming weeks as Department of Revenue staffers continue to monitor the situation.
By the way, if you did get a double refund from the state on your taxes and that money has not been electronically removed from your account, you can save yourself a headache and contact the State Department of Revenue. Don't think they won't find you because they will or you'll just owe the amount you were overpaid this year on next year's taxes.