Penalties / Interest Arose due to Extraordinary Circumstances
Actions of the CRA caused your Interest / Penalties
You Suffer from Financial Hardship
Keep Collectors at Bay.
Arrange Fair and Reasonable Payment Plan.
Stop Wage Garnishees.
Unfreeze Your Bank Account.
Help Prevent the CRA from Shutting Down your Business.
Reduce Interest and Penalties through the Taxpayer Relief Program.
Help Restore your Cash Flow.
Currently, the CRA lists four specific circumstances for which you may qualify.
When your business and or personal life suffer the devastating effect of events beyond your control.
When actions or processes from the CRA result in misinformation or delays that affect your submissions.
When making payments would compromise the ability to remain in business or maintain a reasonable lifestyle.
When your situation does not fall within the previously listed.
If you think the CRA may audit you, contact Barrett Tax Law. We can help you avoid certain tax traps causing hundreds of taxpayers to pay more to the taxman than is required.
When your business and or personal life suffer the devastating effect of events beyond your control.
When actions or processes from the CRA result in misinformation or delays that affect your submissions.
When making payments would compromise the ability to remain in business or maintain a reasonable lifestyle.
When your situation does not fall within the previously listed.
From the current tax year, the CRA will review tax relief requests regarding penalties, interests and refunds for a period of time dating back to a maximum of 10 years. In addition to the existing three-year period, requests for tax return rectifications now extend to the 10-year period.
Start by identifying your specific circumstance, followed by putting together paperwork that provides a detailed account of what you are facing, including the impacts on your business and personal life. Once you have completed the previous steps, submit your request to the office assigned to your current location.
A decision to approve, partially approve or deny your request will be notified following a review process by a CRA designated official during which you may be contacted. To approve or deny a request, the CRA will take into consideration your specific circumstances as well as the actions you have taken to clarify the situation within a reasonable time. Expect approved requests to be notified and include details on applicable refunds and reductions.
Although a final decision will not be made until pending issues are resolved and rights to appeal expire, going ahead with the request could spare you from additional delays and penalties.
Denied request
A denied request is not the last stop, if you disagree with the outcome, you may object, ask for review or go to court.
Invalid request
Often the result of incomplete paperwork or missed deadlines, invalid requests do not prevent you from submitting again.