All taxpayers in Canada are expected to pay their taxes on time. Failure to file a tax return is a crime according to the tax laws of Canada. The Canada Revenue Agency has a right to take you to court or to impose penalties or interests on you. If you cannot manage to pay your taxes, just file your returns and tell the CRA agents about your financial hardships. Alternatively, you can get taxpayer relief help from a tax professional.
What does getting taxpayer relief help mean?
A Taxpayer Relief is an agreement that results out of a negotiation between the tax payer and the CRA when attempting to settle tax arrears. Therefore, taxpayer relief help refers to the assistance you get from a third party. The third party must be a renowned tax professional that understands the CRA practices and tax laws of Canada. They boost your chances of having your tax debt reduced.
A taxpayer relief agreement cannot automatically favor you. The CRA will first do their evaluations to determine whether you qualify. Working with a tax consultant could greatly increase your odds of being declared eligible. Also, a professional will study your case to determine whether you should even bother with the taxpayer relief help. By so doing, the professional will save your time and money.
Unintentional exposures to CRA
When deciding whether they need to submit the Taxpayer Relief form, tax professionals are usually very careful. There are times when submission could provoke accidental exposures to the CRA. This is among the applications that require clever judgment prior to submission. And as an ordinary taxpayer you need taxpayer relief help to get through this procedure. Another thing that makes the application serious is the fact that the taxpayer relief cases take between four months to many years to come to an end. If you do not have the time or expertise to face CRA, simply let a professional do the negotiations for you.
What the taxpayer relief help entails
Many Canadians think that Taxpayer Relief agreement entails just a form. There is a form to fill, yes, but there is more you do not know. As a matter of fact, only few tax companies in Canada have the skills, knowledge and experience to reduce your tax burden through the Taxpayer Relief procedure. The main role a tax firm will play on your behalf is negotiation. Through its representative, the firm will first examine your tax burden and the difficulties surrounding it. Then it will establish whether you are a good candidate for the taxpayer relief help. It will as well compile your late tax returns and submit them.
If you had already submitted your returns with errors and omissions, the company will revise and re-submit them. After addressing all your tax issues and making sure that your penalties/interests are reduced to the biggest level possible, the firm will then submit your taxpayer relief form. The fact that dealing directly with the CRA is difficult is indisputable. You really need taxpayer relief help from a reputable tax firm in Canada.