When a payroll check is subject to escheatment,who handles the distribution of the money?
A)The employee.
B)The company.
C)The IRS.
D)It depends on state laws.

Question

Quizplus · Accepted Answer

The handling of escheatment of payroll checks depends on state laws. Each state has its own regulations for handling unclaimed property, including payroll checks. In some states, the responsibility may fall on the company to try and locate the employee and distribute the funds, while in other states it may involve turning the funds over to the state treasurer's office. It is important for companies to understand the specific laws in their state regarding escheatment to avoid potential legal issues.

When a Payroll Check Is Subject to Escheatment,who Handles the Distribution