Tax Settlement Amnesty Companies Mississauga Oakville Toronto Canada

Tax Settlement Amnesty Companies Mississauga Oakville Toronto Canada

Tax Settlement Amnesty Companies Mississauga Oakville Toronto Canada

How do I settle taxes owing with the Canada Revenue Agency?

If any of these three situations apply to you, then you could be subject to significant financial penalties or, even worse, a criminal charge which could result in jail time:

You have not filed tax returns in previous years

Your tax return is more than 1 year past due

You have unreported income in the current years tax return or in the prior years tax returns

Thankfully, there is a way to avoid such harsh consequences by engaging the services of a tax settlement company in Mississauga. A tax settlement (amnesty) company can help you settle your tax liability with the Canada Revenue Agency and avoid financial penalties and criminal charges.

Voluntary Disclosure Program Tax Settlement Amnesty Companies Mississauga Oakville Toronto Canada

The first way a tax settlement (amnesty) company in Mississauga, Canada, can help you settle your tax liability with the CRA is through the use of Voluntary Disclosure Program.

The Voluntary Disclosure Program was created by the CRA to allow tax payers to come forward with unfilled tax returns, past due tax returns and unreported income. By filing under the Voluntary Disclosure Program, taxpayers will be safe from criminal charges, financial penalties will be waived, and interest charges on amounts owing will be significantly reduced.

Taxpayer Relief Provisions Tax Settlement Amnesty Companies Mississauga Oakville Toronto Canada

The second way to settle taxes with the CRA is through the use of the Taxpayer Relief Provisions.

The Taxpayer Relief Provisions are located in the Income Tax Act and they are basically a compromise between the CRA and the taxpayer on the amount of taxes owing to the CRA.

The most common circumstance for individuals to qualify for the Taxpayer Relief Provisions is claiming financial hardship. That is, you must demonstrate that you are suffering from financial hardship and that you cannot pay the entire amount of taxes owing to the CRA.

The CRA wants their money but they are also reasonable. They know that due to your financial situation, you may not be able to pay the full amount.

I highly recommend that you engage the services of a Tax Settlement (Amnesty) Company in Mississauga, Oakville or Toronto to settle your taxes with the CRA, because the income tax rules are highly complex and the administrative bureaucracy in the CRA is mindboggling.

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