Every company is affected by unclaimed property, and is required to adhere to a wide-variety of state laws to be deemed compliant. Unclaimed property includes un-cashed payroll and vendor checks, customer credit balances, gift cards, dormant checking or savings accounts, as well as dividends, stocks and investment properties.
New changes in the audit selection process are being implemented by many states, which include a more diverse mix of companies and industries now being targeted. In addition, companies with a compliance history are also becoming a focus for state auditors – with an emphasis on incorrect reporting.
These are some of the key insights that Trish Hopper, Principal in the SC&H Unclaimed Property Services practice, will be highlighting at the COST 2014 Sales Tax Conference & Audit Session in a panel called “Unclaimed Property Compliance and Audit: Recent Developments and Best Practices.”
Below is podcast interview with Trish, who provides more insights into what she will be covering at the conference, as well as unclaimed property compliance best practices and much more.
To learn more about SC&H’s Unclaimed Property Services, click here.