Any time you can prevent problems with the Canada tax man the better, and this is one of the many reasons that a lot of people are now utilizing the services of an experienced accountant to assist them with the filing of their taxes. Tax problem prevention is much better than having to deal with a problem that arises in your tax matters.
There are times where those that have filed their taxes have done so with good faith and may have prepared their returns themselves or had someone that is not fully qualified to do the job complete it for them. As a result they now find their returns being questioned by the CRA.
The moment that an additional request or contact is made by the CRA many people panic and think they are in big tax trouble. Sometimes it just means that the tax department is asking for information that was missing to support one of your claims that may have been made on your return. If you fully understand what it is they are requiring you can simply supply the information requested and then wait to see if this satisfies the tax department.
If you are not sure what is required of you then you can contact a Toronto accountant for assistance. It is better to spend a small fee for these services and make sure that you are fully complying with the CRA request rather than end up not following through with the requests or not providing what the tax man is asking for simply because you don’t quite understand what is in question about your tax matter.
There are times where a tax preparer may file for certain credits or may have entered certain expenses that you were not eligible for and this is what the CRA is questioning. Unfortunately when it comes to taxes there are a lot of grey areas and not everything is black and white. You may feel that you are entitled to something regarding your taxes and the tax department disagrees. This is really where it helps to have an experienced mediator well versed in tax matters, like a Toronto accountant, on your side.
This expert can review your tax filing and determine if there was a mistake made and help you take the proper steps to correct it. Then you should have no more problems complying with the CRA demands. On the other hand if the tax laws support your claims then your accountant will advise you of the necessary steps to take to challenge the CRA regarding the specific issue at hand.
