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The state’s unemployment agency potentially overpaid an estimated $55 billion in recent years to people who may not have been eligible for jobless benefits, a California state audit has found.
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The UI program benefits the individual and the local community. For the most part, UI benefits are spent in the local community, which helps sustain the economic well-being of local businesses. The UI program pays benefits to workers who have lost their job and meet the program's eligibility requirements. [7]
In the United States, there is a standard of 26 weeks of unemployment compensation, known as "regular unemployment insurance (UI) benefits".As of December 2020, the U.S. has three programs for extending unemployment benefits: [1] Emergency Unemployment Compensation (EUC), Extended Benefits (EB), and Pandemic Emergency Unemployment Compensation (PEUC).
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The most recent extension was provided by the American Taxpayer Relief Act of 2012, which extended unemployment benefits until the end of 2013. [ 2 ] The United States Department of Labor 's Bureau of Labor Statistics reports that the average (mean) duration of unemployment in weeks was 37.2 weeks in November 2013. [ 3 ]
Besides extending the $8,000 tax credit for first time home buyers until April 2010, the Act also provides a $6,500 tax credit for current homeowners who purchase a home between November 6, 2009 and end of April 2010. [7] The Act also increases the income limits to qualify for the credit.
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