Unclaimed Property

BETTER CERTAINTY What you want and we work to deliver

Unclaimed 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.

Chris Lutz - a man in a business suit, smiling at the camera
Christopher T. LutzChair | State and Local Tax Group
California Franchise Tax Board to Share Unclaimed Property Information with State ControllerJanuary 31, 2022

Effective January 1, 2022, the California Franchise Tax Board (“FTB”) has the authority under Assembly Bill 466 to share information with the State Controller’s Office (“SCO”) relating to a taxpayer’s compliance with the California’s unclaimed property laws. To gather this information, the FTB has added a few questions to California’s business entity tax returns for tax year 2021, including whether…

Upcoming Webinar: David A. Hughes Presents, “Unclaimed Property: Basic Principles & Current Updates” with Baker Tilly – 7/14/22June 30, 2022

When it comes to managing unclaimed property, there are many nuances you need to be aware of. On July 14th, join David Hughes, Mark Heroux and Zeinat Zughayer for a webinar where they will discuss the basic principles of unclaimed property and address current updates with regard to managing it.

Jordan M. Goodman Discusses Priority Rules for Unclaimed Property Disputes with Law360February 28, 2022

Jordan M. Goodman Discusses Priority Rules for Unclaimed Property Disputes with Law360.

David A. Hughes Published in The Illinois Manufacturer – “The Illinois Unclaimed Property Self-Audit Program”February 14, 2022

In his article, David A. Hughes discusses how to approach unclaimed property self-audits and provides a brief history and overview of Illinois’s Unclaimed Property Act.

Jordan M. Goodman Presents a Webinar, "Navigating a Distressed Business" for MICPA - 11/4/20October 7, 2020

11/4/20 4:10 PM CT The economic impact of COVID-19 is already beginning to take shape with the most obvious impact being the rising number of distressed businesses. Join Jordan for this webinar where he will determine the factors of consideration for buying and selling a distressed business, tax liabilities of all kinds, equity, COVID-19-related SALT issues and cancellation of debt…

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