It’s not always as simple as filing your single T4 when it comes to tax season. If you have found your way into some tax confusion, it can be difficult to navigate and correct on your own. The team at Liu & Associates is familiar with the Albertan and Canadian tax landscape and can help to get you back on track with the Canada Revenue Agency (CRA).
Below are a just a few of the different areas that Liu & Associates can help you with:
The Voluntary Disclosures Program (VDP) gives you a second chance to correct a tax return you have already filed (or should have filed). By claiming your mistake voluntarily, you will still be expected to pay the taxes and interest owed in full; however, you become eligible for relief from prosecution and penalties.
If the CRA catches your mistake before you volunteer the information yourself, you lose the ability to apply for this program, so it pays to be honest! Liu & Associates can assist you in determining your eligibility and preparing your application.
Demands to File
If you’ve failed to file your taxes for any reason, you might receive a notice from the CRA demanding that you file. Even if you don’t believe you owe any taxes, if you have received a CRA demand to file then you must comply, and do so quickly to avoid hefty fines. Working with a professional can make sure that things are done quickly, and correctly; reducing the chances of error and you being taxed unfairly or missing out on tax credits you may be entitled to.
Special Investigations by the CRA – Personal and Corporate
Tax audits aren’t just for people who are scamming the system. The CRA may choose to audit an individual or business even if there is no apparent reason to do so. Having a team of professionals to help navigate this process can minimize stress and save you time.
Contact us today to learn how we can help with your taxation issues. Our friendly and knowledgeable staff are ready to help.