Is backdating a check illegal
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has managed to get its mitts on the Apple CEO's deposition with the US Securities and Exchange Commission conducted in the wake of Apple's backdating scandal.
For example, if your checks are dated for a Friday, and you submit direct deposit to Intuit on a Thursday, the employees will not receive the funds until the following banking day (typically Monday). Pacific Time deadline on Wednesday or any time on Thursday or later, it's considered a late payroll since there was less than two banking days between the day you transmitted the paycheck and the effective date of the paycheck.
Example: For a Friday paycheck date, paychecks should be transmitted to Intuit before p.m. Backdate fee is only processed for Assisted Payroll.
Backdating itself isn't illegal, but not telling the SEC or stockholders about it is considered securities fraud.
Heinen has denied the SEC's accusations — and Anderson, who was essentially charged for being asleep at the wheel while the backdating occurred, has claimed Jobs was informed about the implications of backdating.
The SEC claimed Heinen fraudulently cooked up options grants by misrepresenting the true dates the grants were awarded to times when the price was at a historic low.
There were also several derivative lawsuits filed by shareholders which Apple settled out of court for m.
In the deposition, Jobs told SEC lawyers during a March 2008 interview that he initially approached Apple's board of directors in 2001 about a stock option grant out of perceived lack of respect.
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For Quick Books Desktop Payroll Assisted, Intuit will not consider waiving the fee for late payroll processing unless it is due to an Intuit error or arrangements have been made in advance with Intuit.