When an individual gets behind in their taxes, it is not uncommon for a bad situation to get worse. Perhaps you didn’t file on time, and you had all the best intentions in the world of getting this matter attended to shortly after the tax deadline passed. You may have even scheduled into your roster to see a Toronto accountant to assist you with this matter. One thing led to another and before you know it, you are now many months past the deadline, and another tax year will soon be closing within a few months.
If this sounds similar to a tax situation you are in, then there is still some hope of getting yourself back on track with your delinquent tax filing situation, and without too many repercussions.
The first thing you should consider is taking control of getting this matter cleared up now and not leaving it till the next filing date. Trying to complete your delinquent tax and file a current return is a lot more work for you. Choose a Toronto accountant now to deal with your late taxes. If you have not had any notice of action or demand to file your late return as yet, then you may qualify for the voluntary disclosure program. This is a tax amnesty program that the CRA has devised based on fairness. By taking advantage of it on your own accord it can mean that the penalties that come with late tax filing would be waived. This can be a really significant amount. You will still have to pay the interest, but you will be exempt from any other legal action. This program only applies though if you have not had notice to file from the CRA, or any other action taken against you concerning this tax matter.
You really can relieve yourself of this non payment tax burden by speaking with a Toronto accountant now if you are a resident of this city or its surrounding area. These experts are well versed with the voluntary disclosure program and will prepare your taxes for you and assist you in filing them in relation to the program.
Don’t wait one more day. Call us here at Toronto accountant (416) 398-1700 or fill out the contact form on the right and let us help you get your late tax matter straightened out. Once this is taken care of you will be in good shape for your next tax filing and won’t be caught in this situation again.
