Unclaimed Wages or Escheat laws are those of each state that requires employers to report and remit amounts for checks that are uncashed by employees. Escheat or unclaimed wages can become a large compliance issue for employers if they are not following the requirements of each state for reporting and remitting purposes.

This webinar will review the laws of all 50 states in regards to unclaimed wages.  And will help the participant understand the difference between reporting and remitting.  It will help the participant to understand what is considered unclaimed and Escheat. This webinar will also discuss the complexities and challenges associated with Escheat or unclaimed wages

Webinar Agenda

• What is unclaimed Properties?
• When is property considered abandoned?
• Employer/Company risk
• How to handle an audit?
• Unclaimed Properties Compliance
• Special Payroll Concerns
• Best Practices

Webinar Highlights

• What are unclaimed properties
• Difference between tangible and intangible property
• Review of state law dormancy period
• Who must worry about unclaimed property?
• What companies are at higher risk of audit
• Record Retention requirements
• Review of the meaning of due diligence in relation to trying to notify the employee of pay owed.

Who Should Attend

Payroll and Tax Professionals

Credit(s)

IRS CPE Credits: 1 Tax hour