Edward Palonek Outlines the Rules On What is Classified As Unclaimed Property In The State Kansas
Each State has their own Statues as to what is classified as abandoned property and at what point in time the property must be handed over to them. As the years progress and as revenues from State taxes decrease, the Government is looking for new forms of income to help offset the lower receipt of taxes. One of the more popular forms and least burdensome on taxpayers is that of unclaimed property, which amount to millions of dollars in state accounts. The rules of handing over unclaimed property by various institutions are getting stricter all the time, says Edward Palonek, ...