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03.09.10 Ease Unclaimed Property Woes
Cash-starved states have become more aggressive in targeting companies for unclaimed property that must be turned over (escheated) to the state. From AP’s perspective, unclaimed property consists primarily of uncashed checks to vendors. They have to be researched, and special escheatment procedures must be followed more...
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02.12.10 Test Your AP IQ: Unclaimed Property
Which of the following statements about unclaimed property is not true?
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01.15.10 Test Your AP IQ: Unclaimed Property
What is the deadline to report unclaimed property in most states?
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09.15.09 FULL AP EXPO PROGRAM AVAILABLE
Schedules and descriptions of over 30 sessions and workshops—including many on AP automation--are now available for our upcoming 8th Annual AP Conference & Expo October 14-16 at the Loews Royal Pacific at Universal Orlando. more...
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07.28.09 Hidden Unclaimed Property
Organizations must turn over (escheat) unclaimed property to the state—or face a real nightmare. States are aggressively pursuing the collection of funds from all sources, and unclaimed property can be a rich source. The fines and penalties for not turning over unclaimed property can be severe—and there is no statute of limitations. AP needs to be seriously involved in the escheatment process because a lot of unclaimed property resides in AP departments—in the form of uncashed checks, credit memos, and the like.
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05.29.09 Test Your AP IQ: Escheatable Items
Which of the following is NOT considered to be escheatable unclaimed property? more...
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04.13.09 Escheat of 3rd-Party Rebate Checks
A group of retailers, including Sprint Nextel Corp., T-Mobile USA Inc., and Walgreens Co., contracted with Young America Corp. (YAC) to process requests for rebates from their customers. The retailers reimbursed YAC for the rebates it mailed out. YAC did not give any of the retailers information about how many consumers did not cash the rebate checks, and YAC treated the unclaimed funds as income. Who's responsible for the unclaimed property reporting?
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02.20.09 Test Your AP IQ: Unclaimed Property
Which of the following statements about unclaimed property is FALSE?
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02.03.09 Need to Cut Your AP Costs? Free Webinar!
AP managers have found many ways to cut costs and increase productivity. Some ideas are new and innovative. Others have stood the test of time. Either way, they work—and that’s all that matters. Learn all about them by attending a FREE 60-minute webinar. more...
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01.26.09 PRESS RELEASE: Controllers Eye AP
CFOs, Controllers and Business Managers now realize there are significant bottom-line savings to be found in accounts payable, savings they need to tap in 2009. You’ll find a precise roadmap to those savings at the 9th Annual Accounts Payable Operations conference (March 11-13, San Antonio), presented by the Institute of Management and Administration, BNA Subsidiaries, LLC and Casher Associates.
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12.29.08 Firm Gets Into Escheatment Trouble
As part of the escheatment process, you have to track down the vendors listed as payees on uncashed checks that represent unclaimed property. This task is known as “due diligence.” It’s called due diligence for a good reason--you have to be thorough in your efforts to locate these payees. Otherwise, you could get your organization in hot water, as a new court case illustrates.
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12.12.08 Test Your AP IQ: Unclaimed Checks
Which of the following is a best practice for handling unclaimed checks as part of the escheatment process?
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09.12.08 Test Your AP IQ: Reducing Uncashed Checks
What is a good way to reduce the number of uncashed checks you have to escheat to the state as unclaimed property?
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08.11.08 Reducing Escheatment Efforts
Watch for states to get more aggressive in targeting companies for unclaimed property they might have to make sure it’s all turned over to the state. With state budget gaps growing, they will look to this source of revenue to help them out of their economic crises.
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03.24.08 Unclaimed Property Law Changes
Every state has its own set of rules and regulations related to unclaimed property and escheatment. Here are some new evelopments:
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03.21.08 Test Your AP IQ: Where to Send Unclaimed Property
How familiar are you with AP best practices, rules, and regulations? Here’s a question to test your knowledge: Organizations must report and remit (escheat) unclaimed property in order to protect the rights of the property's owner. AP needs to be involved in this process because some unclaimed property resides in AP departments, such as uncashed vendor checks and credit memos. To what entity do you report and remit unclaimed property?
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02.19.08 Check Your Escheatment Practices
Organizations must turn over (escheat) unclaimed property to the state—or face a real nightmare. States are aggressively pursuing the collection of funds from all sources, and unclaimed property can be a rich source. The fines and penalties for not turning over unclaimed property can be severe—and there is no statute of limitations.
more...
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01.18.08 Test Your AP IQ: Unclaimed Property and Escheatment
How familiar are you with AP best practices, rules, and regulations? Here’s a question to test your knowledge: Which of the following is NOT a best practice for handling unclaimed property and the escheatment process?
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11.06.07 IOMA Launches On-Site Training for Accounts Payable
New York, NY (November 6, 2007)—The Institute of Management & Administration (IOMA) has announced the full roll-out of its on-site training programs to help organizations large and small efficiently meet their management and professional development objectives when it's convenient.
IOMA experts will work one-on-one with organizations to identify and address their specific needs. After agreeing on an organization's objectives, IOMA will pair the organization with one or more IOMA Advisory Services consultants, comprised of the nation's leading payables management authorities.
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09.07.07 Test Your AP IQ: Reducing Escheatment
How familiar are you with AP best practices, rules, and regulations? Here’s a question to test your knowledge: What is a best practice to use to reduce the number of uncashed checks you have to escheat to the state as unclaimed property?
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07.19.07 Call for Presentations: Advanced AP 2008
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03.19.07 Insights Into Utah’s New Unclaimed Property Rules
The state of Utah has enacted legislation that makes a number of changes to its unclaimed property (UP) law [H.B. 219, enacted 2/27/07]. Here are some insights on the new rules from Karen Anderson, vice president of ACS Unclaimed Property Recovery & Reporting.
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03.16.07 Test Your AP IQ: Unclaimed Property
Part of the unclaimed property (escheatment) process involves trying to track down the vendors listed as payees on uncashed checks. What is this task called?
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10.25.06 Unclaimed Property Rules Change: Kentucky
Kentucky enacted legislation clarifying abandoned property procedures for traveler’s checks and securities. more...
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10.20.06 New Escheat Item in Delaware
Delaware has amended its state lottery fund law to clarify that any video lottery credit slips that remain unclaimed after one year will revert to the state [H.B. 332, enacted 2/1/06]. more...
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09.14.06 New Unclaimed Property Rules: Idaho
Each state has their own unclaimed property rules—so they are in a constant state of flux. more...
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09.13.06 New Unclaimed Property Rules: Oklahoma
Each state has their own unclaimed property rules—so they are in a constant state of flux. more...
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09.12.06 New Unclaimed Property Rules: Wisconsin
Each state has their own unclaimed property rules—so they are in a constant state of flux. more...
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08.30.06 Unclaimed Property Rules Change: New York
Each state has their own unclaimed property rules—so they are in a constant state of flux: New York more...
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08.29.06 Unclaimed Property Rules Change: Tennessee
Each state has their own unclaimed property rules—so they are in a constant state of flux. Tennessee more...
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