Escheatment Audit Notice - Next Steps

By Karen Anderson The current economic situation has left many states' finances in poor condition. One way that states are augmenting their revenues is by stepping up the number of unclaimed property audits they perform. Businesses discovered to be noncompliant not only have to pay the unclaimed property that they owe, but also could face costly penalties and interest charges. Further, states don't have the resources now to hire more state employee auditors and are increasingly outsourcing…