Whoops!: Louisiana Accidentally Gave Back $26 Million In Tax Refunds
This time of the year, taxpayers look forward to receiving a few extra dollars from their federal and state tax refunds. Louisiana residents got more than what they asked for this tax season after they received double payments of their refunds.
According to New Orleans City Business, about 66,700 taxpayers received an over-payment of their state refund. This mistake cost the state $26 million. Tax payers were paid twice due to a computer error, says Jacques Berry, spokesman for the Division of Administration.
The refunds were issued via direct deposit and the state has already began reversing payments. If the funds aren’t there, the taxpayer will be contacted so the extra monies can be recovered. Financial institutions have also been providing assistance.
“As the State of Louisiana continues to recoup more than $26 million to duplicate individual income tax refunds that were erroneously issued as the result of a computer error, taxpayers are being urged not to take any action,” Berry said in a statement. “The vast majority of the duplicated funds are expected to be recovered electronically.”