Since 2009 the Canada Revenue Agency (CRA) has been moved forward to aggressively address non-compliance on unreported income or unfiled taxes, it becomes more important that you need to be aware of the Voluntary Disclosures Programs (VDP).
The Income Tax Act allows the CRA to assess a penalty of up to 50% of the unpaid tax or the improperly claimed income once the cases of gross negligence are established. In addition, the court may, on summary conviction, fine them 50% to 200% of the tax evaded, and sentence them to a jail term as evidenced by the tax court cases.
To avoid gross negligence penalties or possible criminal charge, you need to quickly get help before CRA initiates any action against you. As soon as CRA initiates the contact, such as one letter in the mail, one phone call, one personal visit, etc. then it is too late.
It could be just ONE day late, you may lose the once in a life time chance to come out without severe damage!
The best way to avoid your life getting ruined is to take actions and start a Voluntary Disclosure Program (VDP)
If you have any of the following tax problems including unreported income, under-reported income, years of late filing with tax owing, undisclosed foreign assets or foreign income, etc, then you cannot afford to wait further! Act right away to resolve your tax problems IMMEDIATELY before it is too late!
When taking VDP program, it is important to work with someone who is qualified and has the experience to help you minimize the damage. Many people tried to fix the tax problems on their own, resulting in negative results because they did not understand the complex Voluntary Disclosure involved. The submission of wrong information can lead to surprising and disappointing outcomes.
At CRA Tax Rescue, our team of tax professionals can help you to manage the VDP program effectively. As a group, we are proud that we have helped many clients in reducing their tax damage by filing voluntary disclosure program (VDP) and negotiated excellent settlement for them.
Negotiating with the CRA is often a confusing and time-consuming task for non-professionals because of the complexity of tax law involving VDP. The costs may outweigh the saving from DIY or do it yourself approach.
Our first consultation meeting is FREE and CONFIDENTIAL. You will get expert analysis of your tax problems and recommendation in the meeting. There is no obligation and you can decide what to do from there. Give us a call TODAY to see how we can help at 866.611.6482!