Latest Posts › Audits

Share:

Should You Convert Your Delaware Unclaimed Property Audit to a VDA?

The Delaware Secretary of State recently issued a statement to businesses encouraging them to convert their unclaimed property audits to voluntary disclosure agreements (“VDAs”). However, the position presented by the State...more

Key Takeaways From Delaware’s Unclaimed Property Overhaul

A bill has been introduced in the Delaware Senate that would overhaul Delaware’s unclaimed property law. The bill is on a fast track and could be enacted by the end of January. If enacted, companies currently under audit will...more

Federal Court Decision Warns Delaware: Be Prepared to Defend Audit Practices in Court

The United States District Court for the District of Delaware dismissed a lawsuit against the Delaware State Escheator, Abandoned Property Audit Manager, and the Secretary of Finance, and Kelmar Associates, LLC, but it came...more

What to do with a Delaware unclaimed property audit document request? Pending litigation may provide an answer.

If you have received a request for information in connection with a Delaware unclaimed property audit that appears to be excessively broad and you don’t know how to respond, you are in good company—even Delaware seems to be...more

Delaware Legislation Reduces Unclaimed Property Audit Frustrations but Reanimates Interest Assessment

On July 22, 2015, the governor signed Senate Bill 141, which makes significant revisions to the Delaware Abandoned and Unclaimed Property statute. Senate Bill 141 is the legislature’s third set of revisions to the Delaware...more

Delaware Enacts Unclaimed Property Legislation That Addresses Some (But Not All) Holder Concerns

The Delaware Legislature appears to have heard some of the complaints of the unclaimed property community. Delaware Governor Jack Markell signed Senate Bill 11, which is based on the recommendations of the Delaware Task Force...more

Warning: Illinois Courts Will Not Abide By Sales Tax Audit Results

In rulings in two of the more than 200 recent Illinois False Claims Act ("FCA") cases, the Circuit Court of Cook County (i) denied a motion by the retailer/defendant seeking a dismissal of the complaint and (ii) granted the...more

Michigan Sets the Standard for Fairness in Unclaimed Property Audits

A recent Michigan bill (House Bill 4289), delivers a useful example to other states regarding administration of abandoned and unclaimed property ("AUP") audits. House Bill 4289 is in the hands of the Governor, who must sign...more

Race to the Finish: June 30 Deadline for Delaware’s New Unclaimed Property Voluntary Disclosure Program

June 30 is the deadline to enter into the new Unclaimed Property Voluntary Disclosure Program — run by Delaware’s Secretary of State (“SOS”)— which temporarily supplants the State Escheator’s voluntary disclosure process. Any...more

Illinois Tax Developments - A Reed Smith Quarterly Update (1st Quarter 2013)

Welcome to the first of a new series of quarterly updates from Reed Smith on state tax developments in Illinois. Every three months we will be giving you updates on the key cases and administrative releases, as well as...more

Reed Smith Hosts Q & A on Unclaimed Property With Delaware Secretary of State – Audits to Begin Again on February 1

For more than an hour on January 8, Delaware Secretary of State Jeffrey Bullock and an attorney administering the new program, Geoffrey Sawyer, took questions from Sara Lima and Michael Wynne of Reed Smith’s State Tax Group....more

11 Results
/
View per page
Page: of 1

"My best business intelligence,
in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
Feedback? Tell us what you think of the new jdsupra.com!