True or False: Many Years of Late Filing Tax Returns = Prison

True or false: many years of late filing tax returns = prison? The answer to this is true… Tax evasion typically involves deliberately ignoring a specific part of the law. For example, those participating in tax evasion may under-report taxable receipts or claim...

How to Combat Gross Negligence Penalties

Scenario: CRA has gathered information, through a tax audit or any other proper process, and issues you an assessment. The tax and interest (compounded daily) is bad enough, but then you really get the punch in the gut when you see they have assessed a gross...

How to Choose a Tax Lawyer, Tax Accountant or Other Tax Professional

When Canada Revenue Agency (CRA) has a question, it can come at the taxpayer in many different ways. For example: CRA can telephone and ask you questions (these calls may be recorded). CRA can write to you and request additional information, demand returns be filed,...