TORONTO, ONTARIO (November 2016) – Faris Chartered Professional Accountant Professional Corporation, a boutique Toronto Accounting firm serving Canada’s business community, has been hard at work getting Taxpayers refunds from the Canada Revenue Agency. Most recently, Faris CPA obtained a refund of over $45,000.00 for one of its clients. What could your business do with this money?
Standing up for Canada’s taxpayers is what Faris CPA does. It’s quite often that the CRA makes mistakes, resulting in taxpayers paying too much tax, too much interest, and too many penalties. Tax rules are complex and most taxpayers find it hard for them to know whether the CRA got it right. Faris CPA brings its expertise and experience to the table to ensure that clients’ rights are secured, and CRA errors don’t bite you in the pocket book.
Faris CPA is aggressively working with clients to ensure that they only pay the government what they owe. Not a penny more. Auditors and other CRA agents are overworked, sometimes lack appropriate training and experience, and are rewarded when they find mistakes. The problem is that when those mistakes found by the CRA are shown to not be mistakes at all, the auditor doesn’t lose the bonus. There is no incentive to always get it right, because there is no punishment when they get things wrong.
This can put a taxpayer in a difficult situation in having to take the CRA agent’s word that the rules were correctly applied and that the outcome is correct and fair. Faris CPA levels the playing field. Whether we supervise the tax audit or we come in after the fact to correct CRA mistakes, we have repeatedly proven the CRA to be wrong and either reduced clients’ tax bills or obtained refunds for them.
Sam Faris, team pleader and President of Faris CPA had this to say earlier this year:
I take pride in delivering work that exceeds client expectations and that ensures that my clients can rest easy. Their time is too valuable to spend on dealing with the CRA, and their energy is best spent on what they do best – providing goods and services to their customers. I see myself as part of every clients’ team, making sure that I gauge my success by theirs. When the CRA comes calling or has taken more than they should, I won’t rest until all problems are resolved and my client has any hard-earned money returned.
Faris CPA actively works with Canadian businesses and business owners to ensure their books and records are accurate and in line with best practices in their particular industry standards. This ensures that, even if audited, Faris CPA’s clients do not face reassessments or disruptions to their business activities. Nothing is better than being able to respond fully to CRA requests and knowing that your tax risk is properly managed. There are long-term benefits to being compliant and having proper record management systems for tax purposes. As your risk of non-compliance is lowered by the CRA, you and your organization will face fewer information requests and audits, saving you time and money.
Faris CPA will go to bat for you. They are proud to offer you and your organization experienced and dedicated accounting, auditing, taxation, and related services.
Case Study
A new client had a difficult CRA audit that disallowed an HST refund valued at almost one million dollars. The CRA audit revealed that his previous accountant had made significant errors which resulted in the disallowing of the HST refund valued at $850,000 (approximately).
He was referred to our firm by another client of ours.
We performed an intensive review of the proposal letter from the CRA along with the income tax act. We were convinced that the case would be won if the records were corrected and a new argument was submitted as a replace to the proposal letter from the CRA.
The CRA auditor denied the response. Our firm filed a Notice of Objection to the CRA.
The Notice of Objection was successful, and our client was able to recover, not only the original refund, but there were additional amounts that the previous accounted had missed that were awarded to our client as well.
