Читать книгу 19 Ways to Survive in a Tough Economy - Lynn Spry - Страница 22

If you realize that your business is already behind on taxes, there are ways to resolve a back tax issue without losing control of the situation. The best way to start is to work with a reputable accountant immediately to determine your business’s debt and options. Allowing a professional accountant to examine the situation may result in better options than if you try to resolve the situation alone. Although you will have to pay for your accountant’s time, the recommendations he or she provides may save you more money than what you spent.

You may be able to have your penalties and interest waived or cancelled in the following situations:^[4]

• Extraordinary circumstance, which means something out of your control prevented you from paying your taxes on time (e.g., flood, fire, postal strike, serious accident or illness, or death in the immediate family).

• Inability to pay or a financial hardship. In this case, if accumulated interest causes prolonged financial hardship to the point that basic necessities cannot be provided such as medical help, food, transportation, or shelter.

• Actions by the Canadian Revenue Agency (CRA), such as processing delays that prevent a taxpayer being informed in a timely manner about an amount owing, errors in information given to the public that caused errors in the taxes filed, incorrect information provided to tax payers, errors in processing, delays in providing information, or delays in completing an audit.

If you fall into any of these categories, you may be able to get relief. You or your accountant can write to the CRA and ask that your penalties and interest be waived or cancelled. In some circumstances you may still have to pay the interest, but the CRA will reduce the amount.