Did you know that the Canada Pension Plan contribution rates have risen starting January 2019? https://t.co/j9hfofJTaO
Here’s what you need to know if CRA wants to review your tax return, Part 2in Tax Advice Information and Updates
After your review
After your review, the CRA will let you know the results IN WRITING, either in a letter or on a notice of assessment or reassessment. If after the review you owe more tax, remember to pay your amount owing in full as soon as possible. And if you can’t pay the full amount, you can call the CRA to set up a payment arrangement. It is important that if you owe taxes, take action right away so you will not be charged interest on any outstanding balance.
Protect yourself from fraud
So the review process starts with a letter from CRA asking for more information or some supporting documents from you with regards to your tax return. It is important to know that if the CRA selects your tax return for review, it will send you a letter on official letterhead or call you.
And as we’ve mentioned before, if the CRA calls you asking for information, get it in writing. Ask for a letter with the information they require and the CRA contact person asking for said information.
With so many incidents of CRA fraud happening, you have to be aware that when CRA contacts you, CRA will never:
- Send or ask for payment by e-transfer
- Use aggressive language and threaten you with arrest or police action
- Ask for payment by prepaid card
- Leave any of your personal information on your answering machine
Lastly, if you need further assistance, please do not hesitate to contact KD. We have the knowledge and expertise to help you!