Unclaimed Property - Not a Tax, But Can be a Risk
| Aug. 11, 2010 | 2:00pm ET
From TaxWatch
As recent litigation activity reminds us, unclaimed property appears to be one area where companies need to have better risk management, controls and processes in place to help mitigate potential financial statement surprises and cash payouts. In addition, certain provisions of the Credit Card Act of 2009 applicable to gift card issuers are effective August 22, 2010. Is your company prepared?
On this TaxWatch Webcast, partners and professionals from KPMG's Department of Professional Practice and State and Local Tax practices address some of the financial statement and unclaimed property risks associated with non-compliance with the states' unclaimed property reporting requirements and some ideas on how to manage total cash payout, including:
- Strategic compliance
- Risk management and controls
- Financial statement impact
- Federal Credit Card Act of 2009 and Stored Value Card Issuers
- States' reaction to the Federal Credit Card Act
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