Category Audit

AI, Asset Recovery, Audit

Fact Check: Does Filing for Unclaimed Money Trigger an IRS Audit? No but Amounts Over $600 May Generate a 1099 Form

Filing for unclaimed money does not trigger an IRS audit. This is one of the most persistent myths about claiming abandoned property or missing funds from...

Nicholas Hurley
June 9, 2026

AI, Audit, Bank Accounts

New Study Found That Unclaimed Property Audits Recovered $3.2 Billion From Companies That Failed to Report Dormant Accounts

State audits of unclaimed property have become increasingly effective at recovering funds that companies should have reported, though the exact $3.

Nicholas Hurley
May 18, 2026