Subscribe to this list via RSS Blog posts tagged in taxpayer relief provisions
If you have not filed your income tax return for the tax year 2007, you have until December 31, 2017 to submit your request under the taxpayer relief provisions. The CRA administers the taxpayer relief provisions that allows them to cancel or waive penalties or interest, accept certain late, amended or revoked elections (income tax only) and refund or reduce the amount payable beyond the normal 3-year period (for individuals and testamentary trusts only.) There is a 10-year time limit on the taxpayer relief provisions which means that if you want to submit a request with regards to the 2007 tax...
Continue reading
Rate this blog entry:
0
As mentioned in part 1, the CRA offers individuals and businesses options that they can consider if they have tax debt that they cannot pay in full.  Here are the other options that may be applicable to your situation. Taxpayer Relief Provisions In some situations, you may be able to ask for relief from penalties and interest charges and reduce the overall amount you or your business owes under the Taxpayer Relief Provisions.  Business and Tax Debt If you are a business owner, the amounts that you deduct and withhold from the wages of your employees and the GST/HST amounts that...
Continue reading
Rate this blog entry:
0
Did you know that the CRA may grant relief from penalty or interest when certain situations prevent a taxpayer from meeting their tax obligations? These certain situations include: -       Extraordinary circumstances; -       Actions of the CRA -       Inability to pay or financial hardship; -       Other circumstances. However, the CRA’s discretion to grant taxpayer relief is limited to any period that ended within 10 years before the calendar year in which a request is submitted or an income tax return is filed. That is why, this coming December 31, 2016, is the deadline to file requests under the taxpayer relief provisions for...
Continue reading
Rate this blog entry:
0
OK, if you read the blog titled Appeals vs. Taxpayer relief then you have the back story.  If not, go read it.  It’s good and it’s informative.  If you are following the dates these things get posted then you may be thinking “wow! The CRA got back to Kevin in like 3 days?”  Don’t be ridiculous.  I am just getting sloppy about posting things when they happen.  Come on.  The CRA are slow and you should know that by now. Yeah, here I go again.  I am going to complain about the CRA and specifically about how slow they are.  What...
Continue reading
Rate this blog entry:
0
Subscribe

If you have a question about one of our products or services, please do not hesitate to contact us!
Please Enter Your Name
Please Enter A Valid Email
Please Enter Your Phone Number
Please select your preferred method of contact.
Refresh Please letters shown!

KD Professional Services
Monday-Friday 9am- 5pm
102, 221 18th Street SE
Calgary, AB, T2E 6J5

403-219-0602
403-219-0603

Read our Tweets