GNYADA October 2014 Newsletter

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the company’s intentional failure to report cash transactions of more than $10,000 to the IRS allowed drug traffickers to launder their profits by buying cars. Cash Reporting Rules When dealers receive cash (or cash equivalents) of more than $10,000, they are required to file IRS Form 8300 with the IRS. Auto dealers may file Form 8300 electronically, using the Bank Secrecy Act (BSA) Electronic Filing (E-Filing) System. E-filing is a free, web-based system that allows businesses to submit meal breaks and claims that they post- ed California's break policy in work- places as required by law. Apple responded that employees often post- poned their meals for various reasons, including because they were, “having too much fun.” While the bulk of the employees affected by this lawsuit are in California, New York has similar laws on both of these points . Meal Breaks and Paychecks Every dealership employee who works more than six hours must be

A used-car dealer with two dealer- ships in Washington State has settled charges brought by the federal prose- cutor that it failed to comply with cash-reporting requirements. The dealer pled guilty to charges that it failed to file “IRS 8300” forms and agreed to forfeit $1.5 million and pay a $250,000 fine for its violations. In addition, as part of the plea deal, the dealer is entering into a corporate- integrity plan to ensure similar viola- tions don’t recur.

reports through a secure network.

Dealers must notify customers who are identified on a cash reporting Form 8300 no later than January 31 of the following year that their trans- action and information was reported to the IRS. More information, including extensive FAQs from the IRS, is available on the “dealer pages” of the GNYADA website at http://www.gnyada.com/dealers.

U.S. Drug Enforcement Administration (DEA) agents said

Class Action Alleges Meal Break Violations

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Employees who are suing computer maker Apple for labor law violations have been granted class action status, raising the stakes for the computer maker, as 21,000 current and former employees are now included in the suit. The employees claim Apple denied them scheduled meal breaks and failed to pay “final” paychecks in a timely manner when employees resigned or were terminated.

allowed at least thirty minutes for “lunch” between 11am and 2pm. Repeated violations can lead to fines of up to $500 per violation and up to 60 days in jail (misdemeanor). In addition, “final” paychecks must be paid on the regular payday for the final period. NY wage and hour rules will be covered at GNYADA’s Annual Labor Law Seminar in October. See the enclosed flyer for registration info.

Apple denies that its managers pre- vented employees from taking timely

GNYADA’s Territory Expands

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At the annual board meeting in June, the Association’s membership voted to include three additional contiguous counties in the lower Hudson Valley region. This allows dealerships in Putnam, Duchess, and Orange to benefit from the full array of membership services

that the Greater New York Automobile Dealers Association has to offer. There are about 30 dealerships that will be added to GNYADA’s ranks through this expansion, most of which are not currently served by other metro associations. Some of these

were already participating as associate members but will now have voting rights as full members. We welcome our new members and hope they will become involved in all we have to offer. We look forward to working them and serving them in as many ways as possible.

Greater New York Automobile Dealers Association • www.gnyada.com

The Newsletter • October 2014

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