An Oregon woman died homeless last year while $884,000 in inheritance money sat unclaimed in a state bank account, a news report said. Cathy Boone died in January 2020 in a warming shelter after living on the streets of the city of Astoria, contending with drug and mental health issues, KGW, the NBC affiliated TV station in…

If you’ve recovered unclaimed property, the windfall undoubtedly is a source of great joy. But the smile may dim when you learn that these assets are taxable. That’s right.  Uncle Sam considers unclaimed property income. And as with all income earners, you must relinquish a portion to the government. How much depends on a variety…

Businesses large and small understand the significance and necessity of unclaimed property compliance. Yet despite this recognized importance, many entities fail to navigate the territory with necessary finesse. Wandering aimlessly, they eventually lose their way and leave themselves open to the most feared of intrusions – the unclaimed property audit. Like it or not, audits…

A business, no matter what its size or financial depth, has a tall order when dealing with unclaimed property compliance. But not all entities are on the same playing field when it comes to managing this crucial facet of operations. While there is substantial overlap in the area of unclaimed property compliance, smaller companies face…

Why Outsource Unclaimed Property Reporting? An outsourced solution can allow your organization to focus on its core competencies while ensuring unclaimed property compliance. As many as 65% of all companies are out of compliance with unclaimed property laws – risking audits, penalties and fines. If you’re a mid-size business, don’t think you’re immune to the…

The team assigned by your business to manage potential unclaimed property audits is like any other team. It must mount a powerful defense. Without this fortification, valuable yardage and probably the game will be lost. Preparing an adequate defense for the infamous unclaimed property audit is not a Herculean task. Nor is it a mystery…

If you own or manage a business entity, chances are you’ll periodically deal with unclaimed property issues. These issues typically emerge when you become the unintended holder of unclaimed assets such as uncashed checks and unredeemed gift cards. In those cases, you must report the holdings to proper state authorities after a designated dormancy period…

The coffers of the Kansas state treasury will be a bit emptier than officials had hoped. Did somebody scoop an unauthorized load from state funds? Not at all. The looming shortfall will result from recent judicial intervention in an unclaimed property dispute. The story begins with a new U.S. Treasury rule. Said legislation ensures the…

They may not be sailing the seven seas nor prowling exotic Caribbean islands. Nevertheless, many of Iowa’s residents are or will be going on a thrilling treasure hunt. Their quarry? Unclaimed property worth millions. Known as ‘The Great Iowa Treasure Hunt’, this widespread search for unclaimed property is sponsored by the state treasury. Unlike Long…

If you’re a resident of Pennsylvania, the state may owe you money. At least, that’s the belief of Pennsylvania’s Treasurer, Rob McCord. According to him, many individuals and businesses have left unclaimed property sitting prominently on the table. At present, unclaimed property held in Pennsylvania’s coffers totals approximately $2.2 billion. The contents of this treasure…

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© 2016 | The Argent Firm, Inc. | A Professional Unclaimed Property Advocate. Registered Agency with the California State Controller's Office. Urban Geko

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