When you send in your tax returns to the CRA, its computer servers will perform several checks on your file and if there is any suspicion or doubts on inaccuracy or misrepresentation, a Notice of Assessment will be issued to you. This notice is generally about two or three pages in its length and will include details of the income that you have earned and the tax amount you have paid. It will also outline the tax balance that you owe to the government for the current period.
There are cases when the computers of the CRA have made erroneous calculations. If this is the case, then it is a matter of minor misunderstanding which can be cleared up easily by your tax representative. You have to get the assessment notice reviewed with care for any surprises of this nature as it could make a big impact on the amount of taxes and interest payable by you at this stage.
When you receive a tax review notice from the CRA, you are facing a more serious tax problem and you need tax audit help. There are measures that you can take with professional tax help to ward off major damage inflicted by the CRA audit.
Specialized tax consultants are perfectly placed to offer you tax audit help as they are trained and have the necessary expertise in Canadian tax system and the internal policies of the CRA. They are experts in fighting for your taxpayer rights. They will make sure that the tax audit is conducted on a fair basis and without the taxpayer getting intimidated.
A specialized tax consultant becomes your best defense against the unpredictable queries of a CRA auditor. More often than not, a CRA audit will bring with it an auditor’s personal biases and his own perspectives on your tax returns. It could be with utter suspicion that you will be looked at. It is important on your part to seek tax audit help from a reliable and specialized tax consultant who can stand by your side and show you how to go through a fair audit on solid grounds.