Tag Archives: late tax

Late Tax Filing Will Attract Penalties and Interests on Amounts Owed to CRA

Late tax filing is a common problem among global tax payers. If you live in Canada, and have not paid your 2013 taxes, you will face a serious penalty starting May 6th this year. According to CRA (Canada Revenue Agency), you will be charged a daily interest (compound interest) on any outstanding balance for 2013. » Read More

Ways to file your Past Years Income Taxes

It is important to file your back taxes and look into past years income taxes.  The principal reason for filing your back taxes is to be compliant with the law because failure in filing taxes is a federal offense which is punishable by huge penalty and a possible criminal prosecution and imprisonment. If you are » Read More