Caveat Emptor: When a Merger or Acquisition Yields More Than You Bargained For

by Maureen Ferrari 16. March 2017 13:21
Congratulations! You just successfully completed an acquisition, and the business press and your industry peers have all taken notice. Another group is following your transaction as well: state unclaimed property auditors. Unclaimed property review, as part of transactional due diligence in a merge... [More]

The Healthcare Industry Gets a Dose of Unclaimed Property

by Maureen Ferrari 27. February 2017 15:07
Among the many compliance obligations that corporations have, one that can be the most complicated and costly to an organization, if neglected, is unclaimed property compliance. While each state has its own unclaimed property law, and no two laws are exactly alike, every state has the authority to a... [More]

Sweeping Changes to Delaware Unclaimed Property Law Present New Opportunities for the Holder Community, But Proceed with Caution

by Maureen Ferrari 17. February 2017 13:59
Delaware has long been known for its aggressive position on unclaimed property audits that included prolonged lookback periods, debatable extrapolation methods and no express period for record retention. Despite improvements, there are still areas that remain unclear and require furth... [More]

Standard Mileage Rates for 2017 Announced

by Cory Hazy 4. January 2017 13:23
The IRS recently announced new optional standard mileage rates for 2017. The business rate has dropped again to 53.5 cents per mile, marking the second consecutive annual decline for that particular usage. Driving for medical or moving purposes is deductible at 17 cents per mile, a drop of two cents... [More]
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Due Diligence: It’s More than a Project, It’s an Ongoing Process

by Maureen Ferrari 29. December 2016 14:33
Maureen Ferrari-Grollman, Managing Partner, Unclaimed Property Advocates Due diligence, the official notification sent to the owner of a dormant account advising that their account will be reported to the state if no action is taken, is a mandatory step in the unclaimed property reporting process i... [More]

The Four Deadly Sins of Unclaimed Property Reporting and What to Do if You Have Committed Them

by Maureen Ferrari 28. December 2016 11:18
Maureen Ferrari-Grollman, Managing Partner, Unclaimed Property Advocates A review of recent unclaimed property related news reveals state’s jurisdictional battles playing out in the courts, legislators proposing laws to broaden unclaimed property laws and plug budget shortfalls, and states se... [More]

Why Unclaimed Property Matters To Your Business

by Maureen Ferrari 7. December 2016 09:17
States have “discovered” unclaimed property revenue can be an alternative to a tax increase, and consequently it is an increasingly important source of operating funds among all 50 states. As a result of this increased attention, unclaimed property laws, and states’ administration ... [More]
Categories: Escheat

Hurricane Matthew Victims Receive Tax Relief from IRS

by Jim Dieterle 17. October 2016 09:00
Hurricane Matthew, which began October 4th, wrought havoc on the East Coast. Fortunately for many victims in the wake of its destruction, the IRS will provide tax relief. As with past natural disasters, specifically those declared a major disaster by the Federal Emergency Management Agency (FEMA), t... [More]
Categories: Tax

Tax Court Ruling Expands Whistleblower Rewards

by Tim Marshall 9. August 2016 09:48
In a recent ruling by the U.S. Tax Court, two whistleblowers were awarded $17.8 million. This decision considerably increases the scope of what can be claimed, and could result in both larger awards and in more whistleblowers coming forward in the future. The IRS whistleblower program allows indivi... [More]
Categories: Tax

Digital Product Sales Tax Enacted

by Kevin McGarry 4. August 2016 09:11
Residents of Pennsylvania are now subject to a six percent sales tax on digital products as defined under Act 84 of 2016. Digital products, as it pertains to this tax, include “any product transferred electronically to a customer by download, streaming, or through other electronic means”... [More]
Categories: Tax