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 SPEAKER: 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 25 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.
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.
