Calif. Missed $516M In Unemployment Refunds, Auditor Says

Law360, New York (March 17, 2014, 4:03 PM EDT) -- A California agency could have recouped $516 million in unemployment benefit overpayments if it participated in a federal program that intercepts individuals' federal tax refunds and sends them to the state, according to a report issued Thursday by a state auditor. 

State Auditor Elaine M. Howell says California really could have used the money, as the state unemployment fund became insolvent in the wake of the financial crisis, forcing California to borrow about $10 billion from the federal government. Howell's report says the California Employment Development...
To view the full article, register now.