Tax Problems & Representation
A tax audit can be a frightening experience. If you are audited by the CRA, you risk being found guilty of tax evasion.
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.
If the audit result is unfavorable, we can file a Notice of Objection to get a more favorable result.
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