• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to secondary sidebar

Alston & Bird Tax Blog

  • Home
  • Services
  • Contacts

Unclaimed property

A Qui Tam Win for Holders, New Federal Common-Law Ruling, JPMorgan Appeals, and a Possible California Amnesty Program

October 11, 2019 By Alston & Bird Tax Team

Our Unclaimed Property Team highlights several recent rulings – both federal and state from across the country – and a new California law that could have broad implications for holders. Qui tam rulings in Delaware and New York A fight for removal from state to federal court A possible California amnesty program Read the full advisory here. [...]Read more

Filed Under: Unclaimed Property Advisory Tagged With: Budget Act of 2019, California Amnesty, California State Controller's Office, ClubCorp, Common-Law Ruling, CVS, Delaware, New York’s False Claims Act, NYFCA, qui tam, Sentate Bill 109, Unclaimed property, UP

Univar, Chapter Two: Only a Pair of Constitutional Claims Survive Dismissal (For Now)

September 20, 2019 By Alston & Bird Tax Team

Our Unclaimed Property Team breaks down the many individual issues at stake in the continuing epic of Univar’s struggle against Delaware and its use of a third-party auditor, and how the courts are deciding in light of earlier Third Circuit rulings. The procedural due process and equal protection claims survive The other claims were dismissed, but could be revived later The next chapter will be set (again) in chancery court Read the full advisory here. [...]Read more

Filed Under: Unclaimed Property Advisory Tagged With: Delaware, Kelmar, Marathon Petroleum Corp., Third Circuit, Unclaimed property, Univar

False Claims Act Is Again in Focus, This Time in New York

September 16, 2019 By Alston & Bird Tax Team

Last week, our Unclaimed Property Team uncovered the broader implications of a New York court’s False Claims Act ruling that could create a new risk for holders that report past-due property. Overview of the action brought by the relator The court’s decision Implications for holders Read the full advisory here. [...]Read more

Filed Under: Unclaimed Property Advisory Tagged With: APL, False Claims Act, FCA, New York, New York Abandoned Property Law, OAG, Office of the New York State Attorney General, Office of the State Comptroller, OSC, qui tam, Supreme Court, Unclaimed property, UP

New York Assembly Introduces a Bill on the Escheat of Virtual Currency

June 25, 2019 By Kendall Houghton and Kathleen Cornett

New York Assembly Bill 8314, introduced on June 13, 2019, would provide for the escheat of virtual currency. The bill, which also directs the comptroller to create regulations establishing when electronic communication qualifies as “written contact” from an owner, defines “virtual currency” as “any type of digital unit that is used for  a  medium of exchange or a form of digitally stored value.” The definition is meant to be broadly construed and includes decentralized currencies and those with a central depository or administrator. However, the bill excludes online gaming currencies, [...]Read more

Filed Under: Unclaimed Property Tagged With: cryptocurrencies, New York Assembly, Unclaimed property, virtual currency

Colorado’s New Revised Uniform Unclaimed Property Act Should Prompt Holder Action

April 17, 2019 By Michael Giovannini and Kathleen Cornett

Our Unclaimed Property Team examines the potential adverse impacts on holders as Colorado joins the list of states updating their unclaimed property laws by adopting a version of RUUPA that repeals its existing $25 reporting deduction but preserves the state’s existing treatment of gift cards. Impacted holders should consider redomestication Will the state apply the repeal retroactively and attempt to claw back deducted funds? Gift cards and gift certificates – maintaining the status quo Read the fill advisory here. [...]Read more

Filed Under: Unclaimed Property Advisory Tagged With: $25 reporting deduction, Colorado, gift card, RUUPA, Unclaimed property, UP

  • Go to page 1
  • Go to page 2
  • Go to page 3
  • Interim pages omitted …
  • Go to page 6
  • Go to Next Page »

Primary Sidebar

As a service of Alston & Bird’s Tax groups, this blog focuses on current issues and events in international, federal, state and local tax and wealth planning of interest to business.

Subscribe

Receive email notifications when new posts are added.

Check your inbox or spam folder to confirm your subscription.

Tags

401(k) ACA Affordable Care Act audit BEAT CARES Act CFC Corporate Tax Planning covid-19 Delaware Department of Treasury ERISA Escheat FATCA FDII Gift cards GILTI international tax IRA IRS Kelmar New York nexus OECD qualified plans Quill RUUPA SCOTUS Section 351 Section 355 Section 367 Section 385 section 482 section 965 State legislation Subpart F Supreme Court Tax Court Tax Cuts and Jobs Act tax reform TCJA Treasury Unclaimed property UP Wayfair

Secondary Sidebar

Categories

Recent Posts

  • If at First You Don’t Succeed, Try, Try Again to Enact the Nation’s First Digital Advertising Services Tax
  • Digital Services Taxes and Nexus for Foreign Tax Credit Purposes
  • FAQs on Unclaimed Property Aspects of Retirement Assets
  • UP Front: A 2021 Sightline for Unclaimed Property Professionals
  • 45Q Regulations Will Spur Carbon Capture and Storage Investment

Archives

Copyright © 2021 · Alston & Bird · All Rights Reserved. Privacy.
This website uses cookies to improve functionality and performance. By continuing to browse this site, you are consenting to the use of cookies on this website. OkCookie policy