We solve serious CRA tax problems

Trouble with the CRA?

Tax PROBLEM SOLVERS

Toronto Chartered Professional Accountants
Tax Experts

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100+ 5 star reviews

REVIEWS FROM GOOGLE

Sincere Halvorson

Before finding Faris CPA, I have worked with 2 other companies, and they don’t come close to the amount of help that the firm has given me. They were a big help in filling outstanding tax returns under the Voluntary Disclosure Program and their fee was reasonable. Sam always goes the extra mile to make sure that all my questions are answered. I highly recommend this firm.

Avalyn Ellis

I have been using Faris CPA’s tax accounting services since 2017, and I’ve never had problems managing my finances ever since. The quality of service they offer is top-notch, and they always keep me updated. If you’re looking for a CPA, just give them a call and avail of their assessment. I assure you, you won’t regret choosing Faris CPA.

Haley Miranda

Sam has been taking care of my business’s taxes since 2018. Working with Faris CPA was one of the best business decisions I’ve made, and this firm continues to deliver good work every year. Great, reliable Toronto firm

Expert Tax Guidance

Faris Chartered Professional Accountant works with people and businesses that face audits and other significant issues with the Canadian Revenue Agency. They are focused on helping clients with significant problems that need experts in tax disputes, audits, disclosures and penalties issues.

Faris CPA is a boutique, tax accounting firm in North York, Ontario. They provide experienced tax help to independent professionals, individual investors, and small to medium size businesses. They provide the highest quality of tax, financial, and accounting services and advice so that undue taxes and penalties can be avoided.

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Services

Tax Disputes & Tax Objections

We provide help with all types of tax disputes and objections. We often work with clients whose previous accounting made serious errors. Learn More

Net Worth Audit

We provide an in depth analysis of the CRA audit in order to minimize tax implications, for corporate and personal net worth audits. Learn More

Voluntary Disclosure

We work with all types of disclosures, including help for individuals, corporations and unreported offshore income. Learn More

Unfiled Tax Returns

We provide a comprehensive review of your case in order to minimize or avoid the most serious of penalties. Learn More

Corporate Tax Audit

We will help our clients to understand and exercise their rights so that they only pay the taxes you owed, not all the ones CRA asks for. Learn More

Personal Tax Audit

We help our clients to avoid an audit or If the CRA is, or has performed a tax audit, we work in order to get our tax relief for our clients. Learn More

GST/HST Audit

We help our clients as soon as they receive an audit through to the post audit process. This enables our clients to focus on their business, not their taxes. Learn More

Reduction of Penalties and Interest

We are specialists in submitting expert analysis, backed by legal precedents to the CRA so that our clients get relief from tax interest and penalties. Learn More

Income Disclosure

We are specialists with significant experience in dealing with offshore assets and income that have not been disclosed. Learn More

People who have serious personal or corporate tax issues with the CRA get very worried and stressed out.
We solve serious CRA tax problems so our clients can sleep at night.

About Sam Faris

Sam is the President of Faris CPA and is a licensed Public Accountant. He has more than 15 years of experience dealing with serious tax issues for both personal and corporate clients.

Sam and his firm specialize in:

  • Director’s Liability Assessments
  • Section 85 Rollovers
  • Wage Garnishees
  • Frozen Bank Accounts
  • Requirements to Pay

Sam has successfully disputed and won many cases against the Canadian Revenue Agency.


Chartered Professional Accountant in Canada, U.S. and U.K.

For more insights from Sam Faris, explore tax articles and tips now

Browse more tax articles and tips from Faris CPA

Case Study

Our client had been audited by the CRA and their findings showed a significant amount of unreported income based on net worth.

The result of the auditor’s assessment meant that there was a significant amount owing to the CRA.

Sam has a sophisticated approach and process for fighting unique cases with complex audits. He found countless mistakes made by the auditor.

When Sam appealed the auditor’s decision because of their mistakes, the errors were rectified. This resulted in the owed amount going from a very large sum to nothing. Our client was ecstatic.

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How To

If you have not filed your Canadian tax returns, or if you have filed them and CRA believes that you have not reported all of your income, they may issue a new worth assessment. They take two financial snapshots, one at the start of the audit period and one at the end.

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FAQS

What is the Voluntary Disclosure Program?
Voluntary disclosure is the name of the Canada Revenue Agency (CRA) Tax amnesty Program that allows Canadian taxpayers to correct back tax problems including unfiled tax returns or unreported income. Taxpayers can submit Voluntary disclosure application along with corrected or missing tax returns in order to avoid tax penalties or prosecution.
I’m being audited by the CRA. How do I stop the audit?
Once an audit is started you cannot stop it. You can hire a Certified Professional Accountant who specializes in tax problems that can ensure your rights are protected and that any taxes and/or penalties can be minimized.
Can I challenge a net worth audit?
The CRA can perform a net worth audit to determine what they believe your under reported income is. Challenging a net worth audit should be done by a professional who has in depth understanding in this type of audit, strong analytical skills and who has disputed this type of audit with CRA for many years in order to minimize any taxes that CRA is asking you to pay.

Testimonial

Sam Faris reduced the significant unreported income based on net worth audit to be nil. Sam’s approach in fighting these types of complex audits is unique and sophisticated. He found countless mistakes made by the auditor which were rectified when Sam appealed the audit decision. Instead of owing significant amount of taxes, Sam reduced it to zero. I highly recommend to hire Sam for this type of audits and any CRA problem.”

E.M., Ottawa

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pro-tip

Pro Tip

ACCESSING THE SMALL BUSINESS DEDUCTION IN YOUR BUSINESS

The Small Business Deduction gives businesses a tax deduction on the first $500,000 of income. This saves an eligible corporation around up to $50,000 in income taxes. There are a number of conditions that have to be met to be eligible for this deduction.