taxable income with recognized losses. This item focuses on legislative developments in California, Illinois, and Kansas, as well as judicial decisions in Pennsylvania and New Jersey, that highlight imposed limitations on NOL usage.
Adjustments & Modifications
Unclaimed property audit fallacies and myths
Raising revenue is increasingly taking primacy over
reuniting owners with their property in states’ enforcement of unclaimed property laws.
Decision Striking Down Delaware’s Estimation Method for Auditing Unclaimed Property to Stand as Parties Settle
Delaware and the unclaimed property holder filed a joint motion to dismiss the case with prejudice, after reaching a settlement agreement.
Unclaimed Property: Update From the Front Line
Many states continue to turn to their abandoned and unclaimed property (AUP) laws to drum up additional funds.
Unclaimed Property: Unraveling the Business-to-Business Exemptions
States with B2B exemptions have determined that businesses are capable of ensuring that their property interests are secured and that taxpayer dollars should not be spent to protect them.
Unclaimed Property: Current Issues and Trends
To reduce the odds of an unwelcome surprise in the form of a hefty abandoned or unclaimed property assessment, companies need to stay on top of the latest AUP issues, including court challenges and legislative developments.
States Increase Enforcement of Unclaimed Property Laws
Many states have now taken a variety of measures to promote compliance with unclaimed property laws, including increasing the number of audits, engaging third-party auditors, and offering voluntary disclosure programs.
TAX PRACTICE MANAGEMENT
2025 tax software survey
AICPA members in tax practice assess how their return preparation software performed during tax season and offer insights into their procedures.