CRA tax problems could take on a whole range of dimensions for taxpayers. They may take the form of
- Income that is not reported
- Demand to File
- Taxes which are overdue
- Back Tax
- CRA Tax Relief and Taxpayer Relief
- Notice of Objection
- CRA tax appeal
- Tax payment Plan
- Wage garnishment
- Voluntary Disclosure Program (VDP)
- CRA audit
How to properly deal with CRA tax problems
Tax reporting in Canada is a stressful activity, particularly if the taxpayer has been served a letter from the CRA consisting of some kind of demand for financial disclosure or proof of evidence for something that has been claimed in the reports.
The logical approach to CRA tax problems is to meet them head on and on an informed basis, or the entire reporting episode may turn out to be one of your worst nightmares. It is not safe to ignore the communications that are sent by the CRA. It is better to make arrangements than keep quiet. Ignoring the notices from CRA would lead to a CRA collection issue which may stretch to your income being garnished through your employer.
It is advisable to seek the help of a qualified tax consultants or specialized tax accountant who could look after demand letters, frozen bank accounts, CRA wage garnishments and requests for financial disclosure or liens on your property. There are several service providers of this kind who specialize in the area of offering cost-effective tax related guidance to solve your tax problems.
Why use professional tax accountants to fix your CRA tax problems
A professional tax accountant would provide assistance in solving your tax problems which are related to income taxes, payroll taxes, Goods and Service taxes, Harmonized Sales Tax, etc. These tax accountants take on the responsibility of assisting individuals and businesses all over Canada and solving their CRA tax problems at the provincial and federal levels.
The professional tax accountant specializes in all accounting activities, audit planning and business consultation concerning all CRA tax problems. All insolvent taxpayers whose tax reporting is not up-to-date could approach the CRA through such accountants to accept a specified amount on the taxes outstanding.
Tax consultants have to be equipped as specialists in tax resolution and tax defense procedures to assist individuals and companies resolve their tax problems with the CRA. The related services generally include the entire imputing process which may consist of the Notice of Assessment, applicable requirements, request for waiver of interests, tax audit, cost of living and the net worth audit.
To help solve your CRA tax problems, the communication between your tax consultant is always required. Bankruptcy filing can be avoided and tax relief processes may be adopted. The assistance of tax consultant becomes essential as the tax defaulters are under the risks of legal enforcement actions.
To prevent CRA collection agents to take legal actions, get help from experienced tax professionals immediately before it is too late. Call Tax SOS for your free consultation at 1-877-982-9767.