CRA Tax Consequences: Late Filing Penalties
The Canada Revenue Agency timeline requirements which all taxpayers must abide by are well known. As a Canadian, you are required to file your income taxes by a certain date each year, and failing to file on time can result in penalties and interest assessed, often inflating a tax balance owing by an overwhelming amount. […]
Missing the CRA Tax Deadline Will Cost You…
The 2015 CRA tax deadline is fast approaching – April 30th is less than 2 weeks away! That means that your income taxes need to be filed before this date or you’ll be facing penalties and interest if you owe a tax debt. If you have a balance owing for 2015, the CRA will charge […]
Late Filing of Income Tax Returns – How Late is Too Late?
With tax time right around the corner, some folks are already getting their receipts in order. Others however are not so concerned with filing their taxes on time because they are already late filing for previous years. If you find yourself in the latter group, you may want to think about changing your tax filing […]