Gerald Miller, general manager of El Paso Honda, said the dealership went through a Form 8300 audit by the IRS about two months ago.
It was the first time in his
15 years of managing the East Side dealership that it has had such an audit, he
The IRS agent told Miller
that the agency is "spot-checking" auto dealers, furniture stores and other sellers of high-ticket items for compliance with Form 8300 filings "because money laundering is being more of an issue these days," Miller
said El Paso Honda
has a handful of $10,000-plus cash transactions each year that it reports on Form 8300.
This year has been unusual because it has already reported four transactions, all in March and April, he
"We might see a couple of cash deals a month," but most of them don't have to be reported because the customer is paying with a personal check or a cashier's check over $10,000, Miller
Cash transactions usually are for large down payments or to buy a used car.
They usually involve someone who has saved money for the deal, Miller
Employees involved in processing sales at the dealership know what a Form 8300 is and what has to be reported.
It is easy to monitor when the same customer purchases cars, he