Michael Giovannini, senior associate in the State & Local Tax Group, was quoted in State Tax Notes in an article titled “Delaware Unclaimed Property Voluntary Disclosure Agreement Program Winds Down.”
The article discussed Delaware’s voluntary disclosure agreement (VDA) program for unclaimed property will no longer accept new enrollees as of June 30, 2014, which could result in new audits for companies that chose not to participate in the program.
Giovannini said some of his clients who were early adopters and participants in the program are still trying to complete the process.
“Secretary of State Jeff Bullock held a conference call several months ago with holders to emphasize that his office wants to speed up the process,” Giovannini said.
The article discussed Delaware’s voluntary disclosure agreement (VDA) program for unclaimed property will no longer accept new enrollees as of June 30, 2014, which could result in new audits for companies that chose not to participate in the program.
Giovannini said some of his clients who were early adopters and participants in the program are still trying to complete the process.
“Secretary of State Jeff Bullock held a conference call several months ago with holders to emphasize that his office wants to speed up the process,” Giovannini said.