Why You Should Employ Tax Audit Help For Your Audit
Posted by support2 February 23 2014
Tagged Under : cra tax audit, income tax audit, tax audit help, tax-audit
It is possible that you will receive notice that you are to undergo a tax audit and this can be for a variety of reasons. In some cases it will be because something was picked up in the tax return you entered, but it is just as likely to be because you were selected at random and there was nothing suspicious found in your file. You will want tax audit help whatever the reason for your selection. There is always the chance that they have indications that you have earned more than you have let the authorities know about.
It could be that interest from savings has not been declared and this is something you need to do as the bank is going to pass on this information and you do not want to undergo a CRA audit for such a simple mistake. Often there will not be an audit set in place right away, but rather you will be given the chance to agree to the new figures that will include the missing information. This is an easy way to deal with the issue, but there is the chance that you are right and they are wrong, so you will want to argue your case and it is at this stage that you should seek tax audit help.
You could find that there are disagreement when it comes to other areas of your business and the authorities are actually questioning the validity of some of your expenses. It is here that you will not want to go through the process of audit alone and will want tax audit help as the people providing it will have much greater knowledge than you have. Planning to put up your own defense will not be the best cause of action, as there could be a lot of money involved and a specialist will have more chance of winning the case and protected you from additional payments being made.
When you have tax audit help, there will be someone else who is looking at your return and picking up sections where you may have gone wrong. Not only will they be looking at the areas that are being questioned, but they may see things that you have forgotten to include, and the addition of this could mitigate any further payments you would have been expected to make. A CRA audit may actually become fairly easy and straightforward when you go into it with tax audit help.
While it would be preferable if you were not subjected to an audit, there are good reasons why they happen. Most people do work within the law when it comes to paying their taxes, but sadly there are some who do not and Tax Audit is the only vehicle available to the CRA in order to make sure that people pay the right amount of taxes.