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Date: Summer 2018
The Tax Lawyer, Vol. 71, No. 4

Michelle DeLappe is a co-author of this article, which was written in collaboration with the American Bar Association Section of Taxation, State and Local Taxes Committee.

While taxes have been imposed for several millennia, the modern unclaimed property laws are of more recent vintage and the underlying legal concepts are less developed. The unclaimed property law unquestionably has become controversial in recent times. The states can present powerful stories detailing when assets were recovered for owners under state unclaimed property laws. At the same time, some audits, especially multistate contingent fee audits, have asserted very large recoveries against holders by means that caused the holders to object strongly to the methods employed in the audits.

This Article is a response to the Revised Uniform Unclaimed Property Act of 2016, commonly known as “RUUPA” issued by the Uniform Law Commission. The Article discusses elements of RUUPA that should be reconsidered.

Read the full article on the American Bar Association website

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