2023 Marcum Year-End Tax Guide

“In this current unclaimed property climate, it appears that it is not a matter of ‘if’ a company gets a notice but ‘when,’ if it does not file annual unclaimed property reports.”

• The burden of proof is on the company to prove something is not unclaimed property. For example, a state or auditor will take the stance that avoided

the company’s exposure may lie and the best way to proceed before a notice is received, as there are many risk mitigation options available that can be tailored to your company and its fact pattern.

check is owed unless the company can show it was reissued or not owed.

In this current unclaimed property climate, it appears that it is not a matter of “if” a company gets a notice but “when,” if it does not file annual unclaimed property reports. Experience has shown that being proactive is always better than being reactive when it comes to unclaimed property. Contact your Marcum representative to find out where

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