We solve serious CRA tax problems

Tax Problems & Representation

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A tax audit can be a frightening experience. If you are audited by the CRA, you risk being found guilty of tax evasion or any other tax problem. The auditor will ask for your books, records, and bank statements. If any of this information is found to be incorrect or incomplete, it may be used against you. The penalty for tax evasion can be a costly one. Penalties range between 50-200% of the evaded sum. Ignoring the CRA can result in them taking collection action whether you know what you owe or not. CRA collection action is not only used to collect debts, but also to make you comply with CRA requests. At Faris CPA, we can represent and advise you during the audit and post audit process. We can reply to the audit proposal and/or fix your books and records if necessary so that your tax problems can be solved. . If the audit result is unfavorable, we can file a Notice of Objection to get a more favorable result.

EXPERT TAX ACCOUNTING FIRM

Call Us Today At For A Confidential Initial Assessment About Any Accounting Or Tax Matters. As An Experienced, Certified, Licensed, And Expert Tax Accounting Firm We Help Our Clients Handle All Tax And Accounting Issues. Give Us A Call Today At 1 844 340 5771.

Sam Faris is a Toronto-based Chartered Professional Accountant who practices as an independent consultant on high-level Canadian tax matters and handles disputes with CRA.

He has recently published an article a business magazine: HERE.

Tax Problems? Contact us Today

On The Blog: More Tax Problems Resources

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Other Services

Faris CPA is proud to offer a wide variety of tax-related services, not limited to:

CRA Audits

Net Worth Audit

GST HST Audits

CRA Tax Assessments

Voluntary Disclosures

FAQS

How many years can you go without filing taxes in Canada?
In Canada, you can go up to 10 years without filing taxes. However, the CRA will penalize you a 5% penalty for late filling plus 1% interest per month on the amount owing. The tax agency can also take away your provincial medical plan or your GST cheques plus other benefits if you fail to pay after the period elapses.
Can you go to jail for not filing taxes in Canada?
Yes! Tax evasion is a crime in Canada. Tax evaders are charged a fine of anywhere between $1 000 and $25,000 and up to one year in prison. Also, when convicted, they must still repay the full amount of taxes owing, plus interest and any civil penalties assessed by the CRA.
Can the CRA check my bank account?
The CRA has access to information from all Canadian financial institutions so that it can establish undeclared, taxable interest, dividend and capital gains income. The CRA can therefore check your bank account.
What might trigger a tax audit by the CRA?
The CRA might tax audit you if you frequently claim losses on a business or a rental property. To help your case, you should ensure that you’ll be able to prove that you’re running a legitimate business and claiming all sales.
What happens if you are audited by the CRA?
If the CRA audits you, they will examine your books and records to determine whether you continue to fulfill your tax obligations, abide and comply with tax laws, and receive the benefits and refunds to which they are entitled.
What will the CRA do if they find information about you that is incorrect or incomplete?
If the CRA finds information about you that is incorrect or incomplete, they will notify all nationwide CRAs to correct this information in your file. They should also provide written results to you and a free copy of your report if the dispute results in a change.

Testimonial

“Sam Faris & his team provided a highly professional accounting & tax service that was both comprehensive & detailed. Additionally, Sam was excellent at collaborating with other professional advisors that I use. As an entrepreneur, I’d highly recommend Faris CPA.”

Mark Barnicutt
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.

Testimonials

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Faris CPA | Toronto Tax Accountant
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Interline North
I was referred to Sam Faris by a family member who highly recommended him to deal with my CRA audit matter which has been ongoing for almost 2 years. Considering that this was a sensitive issue, I needed to make sure that Sam would be the right fit to handle my case. I requested an in-person meeting. I met with Sam for more than 2 hours. He went through CRA proposal letter and immediately identified the weaknesses in CRA’s calculations. He immediately advised on the best approach to dispute this proposal and provided a time line when he will submit the counter analysis. I was impressed with his confidence and his expertise and decided to retain his services. He worked on my file around the clock to ensure meeting the deadline. At the end, Sam was able to reduce the tax bill and I was able to pay it with no hesitation. While Sam was working on the file, he was in a full control with the situation by communicating with the auditor on timely and professional manners. I never felt that I was left in the dark as Sam was always providing me with an update. I do recommend to hire Sam for any dispute with the CRA. Thanks
Response from the owner:Thank you for your positive reviews and kind words.
Suzy Thomas
Had a consultation with Sam about a tax situation and very glad I got professional advice on how to proceed.
Response from the owner:Many thanks for taking the time writing this amazing review.
Louis Zahir
Sam helped me during a tax audit with the CRA. His performance was beyond expectation and I am very satisfied with the end results. Sam has demonstrated a high business and ethics standards and more importantly, he met all his promises. Well deserved excellent rating.
Response from the owner:Thank you Mr. Zahir for your positive feedback.
Rob T
Very glad I contacted Sam and his team for help with my tax situation. I had worked with other accountants in the past but none of them were as knowledgeable and easy to work with as the Faris CPA team. They were able to help me resolve my situation and better prepare for the future.

Update - it’s been a few years now and can confirm that working with Sam as my tax consultant was an excellent choice and highly recommend him!

Get your CRA issues resolved so you can sleep at night

Tax Help Now
Get your CRA tax issues solved
844-340-5771 OR Schedule Assessment
Get your CRA tax issues solved
844-340-5771 OR Schedule Assessment