Corporations face many unique issues when it comes to unclaimed property. Unclaimed Property is not a tax, but has annual reporting requirements like state tax returns. The information comes from functional departments like accounts payable, accounts receivable, payroll, legal, marketing, and human resources.
Who will provide the guidance to bring all these functions together into a streamlined and efficient process for your company?
Unlike other areas of law and accounting, very few companies can manage unclaimed property in-house and must rely on outside counsel and experts to guide them.
That’s where Kimberly DeCarrera comes in! Working with DeCarrera Law, you’ll receive the guidance necessary to guide you through the compliance, audit, and voluntary disclosure processes.
With experience from both legal and accounting, Kimberly DeCarrera is uniquely situated to provide your company with the efficiency necessary to focus on your core business and know that your unclaimed property duties and responsibilities are satisfied.
Unclaimed property is not a tax and does not require nexus. But it is often administered by state taxing authorities and requires annual reporting.
Litigation shapes annual compliance, VDAs, and audits, as well as other unclaimed property related issues. Find summaries and analysis of important cases here.
Learn the basics in this introduction to unclaimed property, including the terminology, the annual compliance process, and audit and VDA basics.
A review of the Maine gift card and unclaimed property law, with a look at the preemption relating to the CARD Act of 2009. With a new law, Maine will gradually decrease the reportable amount for abandoned and unclaimed gift cards until 2022, when they will become effectively exempt.