| COURSE DESCRIPTION: If you think Unclaimed Property isn’t an issue for your company – think again! Unclaimed Property (often referred to as abandoned or escheat property) is a significant liability issue that has been catching companies throughout the country off guard.
UP is not a tax, there are no statute periods, and it is an extremely high-risk area for companies that ignore it. And even if you do your best to comply, there’s a good chance you fall short of meeting all of the regulations.
Yes, UP compliance requirements have been in effect for many years, but few states have aggressively pursued the collection of unreported property until recently. As states battle to control their budgets and enhance revenues, they’re increasing audit efforts and digging to identify and recover more unclaimed property. That spells trouble for CFOs and Controllers everywhere.
Join us for this 60-minute information-packed teleconference, including a Q&A opportunity, addressing this unexpected liability. Learn what unclaimed property is, how it applies to your operations, what actions are necessary, and the risks of inadequate or non-compliance.
The program will cover:
- How UP can impact your bottom line
- A checklist of the types of property that must be reported
- The safest way to handle outstanding A/P and payroll checks
- What to do with voided transactions that lack documentation
- Why you should beware of customer credit balances
- The best ways to handle medical claims, gift certificates and stock certificates/dividends
- What role Sarbanes-Oxley procedures play in Unclaimed Property
- Key management and internal control issues every CFO & Controller should consider
- How dormancy periods are applied to UP
- Tips on reporting deadlines and extensions
- Penalties for failure to report and late reporting
ABOUT THE SPEAKERS: William F. Buechler, Jr. CPA is an Executive with Crowe Chizek and Company LLC and the leader of its Tennessee State Tax Consulting Group. He has over 23 years of tax consulting experience including extensive experience in Tennessee franchise, excise, sales and use taxes, and unclaimed property. Bill was with Deloitte and Touche for 18 years and was the Tennessee desk for Deloitte for most of his career. Bill has been the co-author of the annual Tennessee Tax Guide for over 19 years.
In addition, he has represented a number of clients before state and local taxing authorities in several jurisdictions and has participated in a number of multi-state engagements including merger and acquisition transactions, restructuring engagements, credit studies, sales tax refund projects (including a Arkansas sales/use tax refund project for a 550-megawatt power plant) and unclaimed property engagements. Bill is a member of the Board of Trustees of the Vanderbilt University Paul J. Hartman State and Local Tax Forum and a frequent speaker at various tax conferences on state and local tax and unclaimed property issues. Bill received his B.A. from Vanderbilt University and his J.D. from Vanderbilt University School of Law where he was book review editor of the Vanderbilt Journal of Transnational Law. Dean J. Uminski has an extensive background in all aspects of state and local taxation and specializes in site selection and business incentives & credits consultation. He has over 29 years of tax planning, economic development and consulting experience with manufacturing, wholesaling, retailing, service and financial related business entities, 17 of which were spent in industry with Fortune 200 Firms. He has performed site selection and economic development consultation services on over $3.1 billion of capital investment for manufacturing, wholesale/distribution, call centers, retail, service, research and development, and corporate/regional home office related projects in thirty two states and Canada. His work entails all aspects of economic development planning including; market analysis, strategic planning, capital improvement planning, site location assistance, financing, exit strategy planning, business attraction and expansion/retention planning, tax abatements, statutory and non-statutory tax credits and negotiations with local, regional and state economic development officials.
MONEY-BACK GUARANTEE: We’re so confident you’ll get what you want out of this conference that we’ll refund your full fee if you’re not satisfied. It’s risk-free.
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