May 2022

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    May 1 – Reporting due for several IL property types

    Reporting due for issuers of gift certificates/obligations and stored value cards in ME

    Life insurance reporting deadline for 15 states

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    Mother's Day

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    Memorial Day

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Many states have provisions in their law to charge interest and penalties. Interest assessed on past due property can be as high as 18% per year. However, formal and informal voluntary disclosure agreements (VDAs) present opportunities to mitigate interest and/or penalty assessments.