By Jordan M. Goodman and Joe Carr, Tax Partner, BDO USA. Please feel free to reach out to the authors with questions. A new trend in state and local tax reporting in California combines certain income tax and unclaimed property reporting requirements on 2021 and future business income tax returns to enhance compliance. The increased compliance efforts of the California…
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Unclaimed Property
BETTER CERTAINTY What you want and we work to deliverUnclaimed property is a “non-tax” tax item that prompts unique and often hard to identify legal questions. We counsel you through the complex and varied state-by-state requirements involved with structures that minimize unclaimed property issues, from crafting gift card terms and conditions to conducting business operations from favorable jurisdictions.
Third-party auditors representing states complicate issues and consistently pressure unclaimed property holders. We have extensive experience identifying unclaimed property exposures you may not know you hold. When challenges are made, you will receive the proactive help necessary to eliminate liabilities and defend against aggressive third-party state auditors.