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I filed my tax returns but didn’t have the money to pay. What should I do?
First of all, you have done the right thing by filing the taxes. Because if you do not file, you may have to face late filing penalties, which sometimes can add up to be more than your tax owing considering the compounded daily interests. For the tax owing, if you do not pay the balance then CRA may take legal action shortly that includes garnishing your income, bank freeze, put a lien on your home, direct a sheriff to sell your assets, etc. By reviewing your situation, we can determine your best course of action. If you can not afford to pay the full balance right away demanded by CRA, we can help to negotiate an affordable monthly payment plan. For many other with no ability to pay, we can help to apply for tax relief.
What Legal Actions does CRA take to Collect Tax Owing?
If you owe taxes and can not afford to pay up. CRA may take legal actions to collect the debts owing. Legal action include income garnishment, such as wage garnishment, bank levy, or account receivable if you have business; CRA may also freeze your bank to force you to pay; House lien is also common for collection purpose, sometimes, CRA may send a sheriff to sell your assets to pay the debts. Once the legal actions started, CRA will not stop till the balance is paid or other satisfying arrangements are made, such as negotiating a payment plan.
What is the Taxpayer Relief?
Taxpayer relief is a negotiated settlement between taxpayers and CRA. If you can not afford to pay your tax debts, CRA may relieve your tax debt amount owing. The main factors for a successful relief are due to uncontrollable financial and physical or mental hardship, third party mistake, etc
Will I have to deal with the tax agency if you take my case?
No! We will handle your case in its entirety once we become your agent. All communications with the tax authorities will be made directly through us as Authorized Agents so you do not have to suffer the stress.
I have not filed returns for several years. Is it too late to reach a settlement?
No, all tax returns must be filed to do either the Taxpayer Relief or an payment plan. We will guide you to bring you current and formulate a strategy to pay off the balance due.
What is Tax Amnesty and is it best for me?
Revenue Canada’s Voluntary Disclosure program, which is also called tax pardon or VDP or tax amnesty, that allows taxpayers who did not file tax returns or under reported their income to voluntarily declare income and file back tax returns. Whether it is the best option for you depends on your situation, which is different case by case. We provide FREE consultation to analyze if VDP is your best action to take. Call us at at 1-877-918-2991 or 416-840-6899 before CRA contacts you. One day late is too late
What are your fees?
Our fees for the Tax resolution services are fairly reasonable comparing to other service providers in this tax resolution industry. To be fair to everyone, we do have a standard fee schedule as a guideline that we can present to you during your FREE consultation. We provide affordable services that solve your difficult tax problems
I am located outside Ontario. Can you still help me?
Yes! CRA has tax centers across the country and all the centers follow the same set of rules and procedures. We can provide services to you despite of the distance with the help of the technology available today. We can provide help via email, fax, post, phone, etc. In fact we do have clients residing outside the country
What type of documents should I bring for the consultation?
To help us better analyze your tax situation, please bring us CRA’s letters such as demand to file, notice of assessment, collection notice, statement of account, etc. and any other documents that provide supporting information. We will provide you with a thorough analysis and recommendation based on your documents.
Can I go to jail or prison for my tax filings?
If you view all the court conviction records, you may find that a lot of the cases are simply due to failure to file taxes, including personal income taxes, business income taxes, etc. Failure to file taxes is illegal, and thus subject to criminal and civil penalties, which means that you can indeed go to jail or pay large penalties which may destroy you financially.