The most important time to look for Toronto tax help is when you have a tax dispute with the Canada Revenue Authority. It is nearly impossible to get yourself out of a tax dispute with the CRA. You need a knowledgeable tax consultant to take you through this difficult and stressful procedure. If you are facing a problem like this for the first time, the following information will help you understand how the tax dispute process works.
Firstly you must accept that you cannot go about it alone. You should look for a reputable Toronto tax help service. So far if you have a dispute with the CRA you have received a Notice of Assessment or even a Notice of Reassessment. The former is sent to you a few weeks after the CRA staff receives your tax return. The later one is sent if CRA finds discrepancies and corrects them for you.
The CRA might even request for extra information about your tax obligations by initialing a tax audit. You may seek Toronto tax help at this point to ensure that you are not harassed by the CRA auditors. After a full-scale or a partial audit process, the auditors may still disagree with your tax return report. In a short while they will surprise you with a proposal letter. It is a letter that outlines the tax auditor’s position about your tax return and provides details on how you will be reprimanded.
Usually the CRA gives its clients up to thirty days to resubmit new materials as demanded by the proposal letter. Many tax payers get stuck in this step. It is advisable to look for reliable Toronto tax help to see you through the audit process. A knowledgeable and competent consultant will ensure that you are not harassed and that you are not treated without reference to the law. The Notice of Reassessment is the next scary thing you will receive from the CRA after the proposal letter.
It is a letter that will remind you how much you owe the CRA and that action against you will be taken according to what was stipulated in your proposal letter. Do not take note of the day you received the notice in your mailbox. Noting down the date on the Notice of Reassessment is recommended as it marks the beginning of the 90-day appeal period. A Toronto tax help consultant is required in this stage to steer things in the right direction.
They will be your right hand as you object the amount of tax, penalties or interest fees that the CRA demands from you after re-assessment. Now, if you wish to object or dispute the amounts owing, as per the Notice of Reassessment, you must send your appeal to the CRA Appeals Division. A Toronto tax help consultant can help you fill the Notice of Objection with the Chief of Appeals of the CRA.
It must be filled within ninety days of the Notice of Reassessment. If the deadline is not met, your Toronto tax help consultant could attempt to apply for an extension to file your Notice of Objection behind schedule. The CRA must, however, be given convincing reasons as to why you missed your deadline.