CANADA'S TAX & BUSINESS LAWYERS
Do You Have
Unfiled
Tax Returns?
We Can Help!
We've got you covered!
Schedule a Consultation
We will beat any competing quote by 20%.
Things that You Should Know
It is ILLEGAL to not file your taxes
It is NOT illegal to owe a debt to the CRA
Even if you cannot pay your taxes, you should file
We have Helped
Thousands of Other
Canadians Catch Up
with Their Filings
01.
Get your returns filed quickly.
02.
Avoid or Decrease Penalties through Voluntary Disclosures Program
03.
Avoid Criminal Prosecution through Voluntary Disclosures Program
04.
Get you Back on Track with all your Filing
What if
I don’t File my Returns?
Barrett Tax Law can help prevent the situation from getting worse
The CRA may create arbitrary tax returns to get your attention
You may be penalized up to 50% (gross negligence penalty)
You may be charged criminally with tax evasion or failure to file
You may be MISSING OUT on credits and on other government assistance
What if
I don’t File my Returns?
Barrett Tax Law can help prevent the situation from getting worse
The CRA may create arbitrary tax returns to get your attention
You may be penalized up to 50% (gross negligence penalty)
You may be charged criminally with tax evasion or failure to file
You may be MISSING OUT on credits and on other government assistance
Penalties
First Time Offenders
There is a penalty for filing a return late, which is 5% of the unpaid taxes PLUS an additional 1% per month for upwards of 12 months, with a maximum penalty of 17%.
Repeat Offenders
For repeat offenders the percentage is even higher for unpaid taxes being 10% PLUS an additional 2% per month for upwards of 20 months with a maximum penalty of 50%.
Overdue Taxes
The CRA can and will charge daily interest rates on any overdue taxes or balance owing. Even if you do not owe money but have not filed your returns, the CRA is able to charge a daily interest rate. Interest begins the day after your tax return is due. There are ways in which Barrett Tax Law can assist you.
If you have unfiled tax returns or unreported income you may have the option of partaking in the
Voluntary Disclosure Program (the ‘VDP”). A common reason for not filing taxes is that people fear that they will be unable to pay the tax owing or they are overwhelmed by how many returns they have to complete. Do not let this scare you. There are many ways available to allow you to pay off the taxes while avoiding being further penalized by the CRA, for instance tax relief.
For more information on penalties imposed by the CRA,
Collecting Unpaid Debt
You must be careful as the CRA has a wide array of ways in which they collect unpaid debt from an individual or a business. The most common methods include:
Wage garnishing;
Imposing property liens;
Destroying your credit;
Forcing the sale of your home;
Freezing and/or seizing bank accounts;
Intercepting monies payable to you; and
Seizing your assets
The penalties for unfiled returns and outstanding taxes owing are extremely serious. Barrett Tax Law is here to assist if you!