We solve serious CRA tax problems

Tax Debt You Can’t Pay

Because the CRA has the benefit of special laws concerning unpaid taxes, owing money to them presents a different set of problems than owing money to an ordinary creditor. When recovering its dues, the CRA can use a series of options, like garnishing your wages, imposing tax liens, seizing money, freezing your bank account, or seizing your assets and selling them.

Unlike ordinary creditors, the CRA does not need a court order to garnish your wages. When you owe money or have unpaid taxes to the CRA, compound daily interest accrues from when the amount was due. The CRA charges interest on penalties starting on the day your return was due. If you don’t file tax returns on time, the CRA imposes a 5% penalty on the complete balance owing plus 1%, up to 12 months, on the full balance of the late tax return. The penalties and interest for repeat offenders are much more server.

If you didn’t file your return because unforeseen circumstances, such as severe personal problems or natural calamities, you may be able to avoid paying interest or penalties by asking for Taxpayer. Faris CPA can help you determine whether you may qualify and, if you do, present your case to the CRA.

If you’re thinking of securing a CRA payment plan, or fear the CRA is about to seize your belongings, call one of our experienced and trusted tax advisors for help.

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

Testimonial

“As it happens with a lot of people, my business too got audited by CRA tax auditors. I have an accountant who told me to go to Sam Faris. I contacted him and his expert team who handled my CRA. I could finally sleep peacefully because of that. I could not be more pleased with the service provided by Sam Faris.”

Alexander P.