Solutions for Tax Debt and Tax Relief
Tax Solutions Canada can help you find real relief for your tax debt. Contact us today.
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If you have a tax debt and you know that there is no realistic way that you can re-pay it, even on a monthly basis, then you are likely looking for tax relief.
There are different ways that you can go about achieving relief from your tax debt. The method will greatly depend on your personal and financial circumstances.
Tax relief can be achieved a number of ways.
If you have had a severe medical condition, financial hardship or a natural disaster has occurred that has caused your tax problem, you may qualify for relief through a CRA Taxpayer Relief Application. These applications will not reduce the principal tax debt, but may cancel all or a portion of the interest and penalties.
You must be able to prove your claim and applications are approved on a case by case basis. The CRA Taxpayer Relief Application process is an official process and your chances for success increase if you use a professional organization that has experience with preparing these applications. We have significant experience preparing CRA Taxpayer Relief Applications on behalf of our clients.
Consumer Proposal or Bankruptcy
Tax relief can be achieved through a consumer proposal or bankruptcy. When a consumer proposal is made, CRA (Canada Revenue Agency) collection action will stop, interest will be frozen and your principal tax debt and penalties may be reduced. As a member of the Farber Financial Group, we have the professional resources required to arrange a fully represented consultation with a trustee to discuss tax relief options that may involve a consumer proposal or bankruptcy.
We know that each person‚Äôs situation is different, and while you may not be able to afford to repay the CRA monthly, you may be able to pay the terms of a low rate line of credit, loan or mortgage. Our financial professionals can review your finances and have the resources to help you secure financing to pay off your tax debt (if you qualify).
Farber Tax Solutions can help you successfully deal with CRA problems. We utilize the experience of our tax experts to:
- 1| Offer a comprehensive solution that is focused on achieving the most favourable possible outcome for your tax issue;
- 2| Communicate with the CRA on your behalf and navigate the entire CRA dispute process; and
- 3| Offer a complete solution to your tax problems, including ex-CRA professionals, lawyers, and experienced accountants.
James and his team are outstanding. When I called TaxSolutions I was in a panic. James listened to me, calmed me down, then told me what needed to be done and how he could help. Best call I ever made
Again I can’t thank you enough! My life has been far more calm in so many ways after meeting with you. I have had many family members and friends mention how happy I seem lately. It’s truly a reflection of your hard work and ability to do your profession so great!”
I don’t even know where to.begin or how to even thank you for lending an ear this morning. Without even seeing any type of documentation to support my situation .. you offered support, guidance and most of all kindness. THANK YOU from the bottom of my heart!!