Back Taxes: Adjusting Your Tax Return
Did you miss something on your tax return?
How can you correct your tax return? Well, there is an avenue made available by the CRA to allow you to correct your tax return. You will need to send a letter detailing the correction to your tax centre that you mailed your tax return, and including any supporting documentation. Only requests relating to the last ten years will be accepted. For example, a 2014 adjustment be for years 2004 and later. CRA does its best but the processing of the adjustments can be anywhere from one month to six months. Keep your fingers crossed for a speedy turn around time, but don’t bet on it.
A simple correction could be something like an omitted tuition slip. A more complicated correction could be the omission of vehicle deductions. We have seen clients forget to claim vehicle costs when they are entitled to claim these deductions. We have seen many clients who have missed numerous tax credits and tax deductions that are available. It is a prudent decision to have a tax accountant prepare your tax return so you pick up all your deductions and tax credits. Remember, your biggest expense is your tax bill. Get your tax returns / back taxes done by the experienced tax accountants at Tax Doctors Canada. They will ensure that you receive any previously missed tax deductions and correctly file your tax returns going forward; thus, helping you reduce your tax burden.
Do not hesitate any longer, call toll free at 1 855 TAX DOCS (855 829 3627) or use our convenient contact web form on this page for a free initial no obligation consultation for your personal and business back tax requirements. The professional accountants at Tax Doctors Canada can negotiate a settlement for you with the tax department and possibly save you interest, penalties and prosecution. There are Tax Doctors Canada locations in Mississauga, Toronto and Markham to serve you.
Contact us using the web form below or call toll free at 1 855 TAX DOCS (855 829 3627) for a a free no obligation consultation. We have convenient locations in Mississauga, Toronto and Markham to serve you.