About this item
Highlights
- Unclaimed Property: A Reporting Process and Audit Survival Guide breaks the unclaimed property process down into manageable steps that you can either handle on your own or with the help of a professional in the field.
- About the Author: TRACEY L. REID, JD, LLM, is President of Reid Unclaimed Property Services LLC.
- 224 Pages
- Business + Money Management, Accounting
Description
Book Synopsis
Unclaimed Property: A Reporting Process and Audit Survival Guide breaks the unclaimed property process down into manageable steps that you can either handle on your own or with the help of a professional in the field. Author Tracey Reid presents a thorough introduction to every aspect of unclaimed property laws, clarifying what unclaimed property is, how the escheat laws apply to your particular circumstance, and how you can bring your enterprise into compliance with the least amount of manpower and cash outlay possible.From the Back Cover
UNCLAIMED PROPERTY A Reporting Process and Audit Survival Guide
Unclaimed property law enforcement has recently become the darling of politicians across the country looking for ways to increase their states' revenues without instituting new taxes that alienate their voters. In order to speed up the collection of unclaimed property, state laws are changing rapidly every year. While it can be almost impossible to understand the intricacies of all of the different state laws, it is possible to bring a company into compliance with the escheat laws it is subject to.
Providing the necessary tools for companies to be in compliance with state unclaimed property laws, Unclaimed Property: A Reporting Process and Audit Survival Guide presents the fundamentals of unclaimed property laws and explains how they affect a company's bottom line. Insightful and highly readable, this landmark guide breaks down the process into manageable steps for the escheat beginner and refreshes the seasoned professional, who has a system in place, with a check-up to find areas that need improvement. Thorough and practical in approach, this book expertly discusses:
- What an organization should do when notification is received of an audit
- The myths of unclaimed property
- Calculating unclaimed property liability
- Why the auditor CAN determine unclaimed property liability for a company, even if no records exist
- Preparing for and managing an unclaimed property audit
- Developing unclaimed property policies and procedures
- Legal issues in unclaimed property audits
- Trends in unclaimed property
- How not to be a victim of unclaimed property fraud
- Knowing the enemy: types of unclaimed property auditors
Equipping readers with sample due diligence letters and a sample policy and procedures manual, Unclaimed Property: A Reporting Process and Audit Survival Guide is an authoritative guide filled with practical, immediately useful advice to handling unclaimed property audits, understanding the nature of escheat laws, and how they will affect a company's bottom line.
Review Quotes
"The book demonstrates the need for complying with escheat laws, and can teach readers how to develop a compliance system, as well as how to survive a state audit." (Accounting Today, January 26th, 2009)
About the Author
TRACEY L. REID, JD, LLM, is President of Reid Unclaimed Property Services LLC. Her company helps businesses of all sizes become compliant with state unclaimed property laws. Prior to forming her own company, she was a manager with a Big 4 accounting firm where she concentrated on unclaimed property.