Here’s What To Do With Unfiled Tax Returns
You might be like thousands of Canadians who have not filed their taxes for the past few years. Whether it is just missing one year, or missing ten years, the pressure from not filing can make for some serious stress.
The Canadian government understands that good people, sometimes make mistakes, which can mean not filing taxes, or filing taxes incorrectly. We have dealt with hundreds of people in these situations, and we can help you out of this!
What do I do now?
If you have been contacted by the Canada Revenue Agency, you should call us immediately. Once you are contacted, you may receive demands that you file. A demand to file, if missed, can lead to criminal charges. It is much better to work with the non-filing division then to ignore them and risk criminal issues.
If the Canada Revenue Agency has not sent you a letter, or called you about your missing taxes, you can enter Canada’s amnesty program. Have you heard of the Voluntary Disclosures Program?
What is the Voluntary Disclosures Program?
The Voluntary Disclosures Program allows those who have either not filed their taxes, or made mistakes on previous filings, to come forward and correct these errors. The major benefits of the program are: you are not charged penalties, you get interest relief, and you cannot be charged criminally. That’s right, technically not filing your taxes or lying on your taxes is a crime. That’s why getting this fixed the right way is important.
Some people think of it as an amnesty program because you are allowed to file without penalties.
How do I start a Voluntary Disclosure?
A voluntary disclosure starts with an application to the Canada Revenue Agency requesting that you be allowed into the program. Here at Rosen Kirshen Tax Law we can assist you with this application, and ensuring you meet all of the requirements so that your disclosure is accepted.
If your disclosure is not accepted, your tax returns will still be sent for processing, but you will be hit with major penalties, and interest charges, not to mention possible criminal charges.
What Comes Next?
After applying to be in the program, you must start to create the tax returns, or fix the previous mistakes that you are coming forward to correct. We work with professional accountants who can assist you with any filing you may have, and with any questions that arise.
But What if I don’t have any Documentation for my Tax Returns?
First off, you’re not alone. We deal with all types of taxpayers here at Rosen Kirshen Tax Law, and that includes those who don’t keep great records. We will help you get your slips from the Canada Revenue Agency, and we will work with you to gather as much documentation as we can to ensure your tax returns are done properly. You may not know, but the Canada Revenue Agency keeps files on all taxpayers. We can get this file before we get started on your tax returns ensuring we have everything we need.
If you have unfiled, or incorrectly filed tax returns don’t delay. Contact from the Canada Revenue Agency may never come, but it might already be in the mail! The sooner you contact us, the sooner we can get you back on track, and get this stress off your back!
This article provides information of a general nature only. It does not provide legal advice nor can it or should it be relied upon. All tax situations are specific to their facts and will differ from the situations in this article. If you have specific legal questions you should consult a lawyer.