Taxpayer Relief deadline for requests related to 2004 is December 31, 2014

by in Tax Advice Information and Updates

Please be reminded that if you are want to take advantage of the taxpayer relief provisions related to your 2004 taxes, your deadline is the end of the year, December 31, 2014 to make this request.

The deadline applies to relief requests from taxpayers and registrants (for both GST/HST and non GST/HST purposes) for:

1.     The 20014 tax year
2.     Any reporting period that ended during the 2004 calendar and
3.     Any interest and certain penalties that accrued during the 2004 calendar year for any tax year or reporting period.

Taxpayer relief allows for the cancellation or waiver of penalties and interest when taxpayers are unable to meet their tax obligations due to circumstances beyond their control. The CRA may also accept certain late-filed, amended, or revoked income tax elections and issue income tax refunds or reduce income tax payable beyond the normal three-year period.

The taxpayer relief is limited to a 10-year period. This means that the CRA may grant relief related to any tax year or reporting period that ended within 10 calendar years of the year the taxpayer relief request is made.

If you are not sure you need to make a taxpayer relief request but was involved in a tax process with the CRA (which includes an audit, objection, or appeal) for the tax year 2004, it is better to be safe and make the request before the December deadline.

Source: CRA website, www.cra.gc.ca  

Rate this blog entry:
0
KD PROFESSIONAL is a group of interconnected companies offering a wide range of financial, accounting and tax services to individuals and businesses across Canada.

Through our experienced staff and strategic alliances, we provide exemplary service and solutions to maximize your cash flow, while preserving Wealth.

Comments

  • No comments made yet. Be the first to submit a comment

Leave your comment

Guest
Guest Tuesday, 23 January 2018
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