|
|
| *Ostroff, Fair and Company>>>Canada Taxes |
Did Canadian Revenue Agency screw up my reassessment? |
Help! I just got this notice of reassessment and they say I owe them just under 2 grand because my revised total income was over 20 grand! Which is impossible because I didn't make anywhere near that last year. How is this possible? My amount previous assessment was only 6 thousand. I did get a letter a few months ago about authorizing a representative (my accountant) for a reassessment but I didnt send it in yet.. does that have anything to do with it? How and where could they get such numbers from??? Any advice would help, thanks. The best advice I can give you at this point is to "calm down". If as you indicate, you have not earned anywhere near the number the CRA is comming up with, then there is nothing to worry about. If as also indicated you have an accountant looking after filing you income tax returns he/she should be the first person you speak with. The CRA is also bound to provide you with all the details of how they arrrived at their number. if these details were not included with your assessment there is a telephone number on your assessment that you can call to obtain this information. Once you get all the facts together things will sort themselves out. If in fact you do owe the money favourable payment terms can be negotiated. Don't die a thousand deaths when only one is necessary. Today is Sunday so there is nothing to be done today. Put this issue out of you mind and enjoy the moment you are in right now it is as perfect as life can be. Smile! Source(s): Thirty seven years in the tax business The only thing that I can think of is, if you didn't have any other employment income, was your school paid for by Employment Insurance? If it was, you should have received a T4E for the amount that they paid. That would have been taxable income and they don't take nearly enough off to make a difference. Your T2202a will help with the tuition and ed amts. Some places like H&R have a double check thing. Maybe you could take your last return in and have them go over it with you. It won't cost you anything. |
| Tags |
| Singapore Taxes Mexico Taxes Ireland Taxes India Taxes Germany Taxes Canada Taxes Australia Taxes Small Business Renting & Real Estate |
Finance Categories--Copyright/IP Policy--Contact Webmaster |